By Brandon Moseley
Alabama Political Reporter
Friday, December 9, 2016, US Representative Mo Brooks (R-Huntsville) joined a group of bipartisan lawmakers in sending a letter to the Committee on Foreign Investment in the United States (CFIUS), pushing back against the purchase of Lattice Semiconductor, the third-largest American producer of critical technology for US military applications, by an American shell company financed by China’s communist government.
Congressman Brooks said, “In an alarming report, an American programmable-chip maker, Lattice Semiconductor, is to be purchased by a venture capital firm with ties to the Chinese government. The acquisition is a serious national security threat to the US military supply chain and it is essential the Committee on Foreign Investment in the United States bar this egregious attempt to harvest American technology by China.”
Rep. Brooks concluded, “China is attempting to steal valuable intellectual property, gravely endangering both America’s national security and economic interests. Moreover, the US military relies on Lattice technology for critical military applications and the purchase could lead to a reliance on foreign-sourced technology. It is confounding that in our current state of global uncertainty CFIUS would unwisely allow this acquisition to move forward. CFIUS should act decisively against this purchase and continue to protect American companies, employees, and technology from being usurped by foreign governments.”
Congressman Mike Rogers (R-Saks) also signed the letter.
In the letter the Congress members argue that the Chinese five year plan includes increasing the semiconductor industry in China.
Lattice Semiconductor is to be bought by the private equity firm Canyon Bridge Capital Partners for $1.3 billion. The $8.30 per-share deal is at a 30.3 percent premium to Lattice’s market value which closed Wednesday close of $6.37 per share.
Brooks said on social media that Canyon Bridge is a shell company owned by the Chinese government and that the chips that Lattice Semiconductor makes techonology that is critical to U.S. military applications.
Congressman Mo Brooks represents Alabama’s Fifth Congressional District.