UK chip designer FTDI forced to sell China stake
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Future Technology Devices International (FTDI) in Glasgow is being forced to sell an 80% stake in the company owned by a Chinese company.
The UK government has ordered the sale of the 80.2% stake held by Feite Holdings, a division of Beijing Jianguang Asset Management, under national security concerns.
The deal to acquire a stake over 75% in December 2021 for $414m triggered a detailed national security assessment under the National Security and Investment Act 2021, which came into force on 5 November 2024.
The company designs USB and graphics controllers for embedded equipment.
The order overs UK-developed semiconductor technology and associated intellectual property being deployed in ways that are contrary to UK national security and the ownership of FTDI being used to pose a risk to critical national infrastructure which uses FTDI products.
This follows Nexperia, owned by Wingtech of China, being forced to sell its stake in the Newport Wafer Fab. This was bought with government approval by Siliconix of the US in May 2024 for $117m
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