Acquisition of an 80.2% shareholding in Future Technology Devices International Limited by Willow Vision Limited
Published 1 July 2026
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1. Following a detailed national security assessment, the Chancellor of the Duchy of Lancaster has made a final order pursuant to section 26 of the National Security and Investment Act 2021 (“the Act”), which comes into force on 1 July 2026.
2. The parties who are subject to the order are:
i. Willow Vision Limited (“Willow”);
ii. Future Technology Devices International Limited (“FTDI”); and
iii. FTDI Holding Limited.
3. Willow will gain control of the qualifying entity, FTDI, by acquiring 80.2% of FTDI’s shares (“the Acquisition”).
4. The Acquisition constitutes trigger events under section 8(2)(c), 8(5)(c) and 8(6) of the Act.
5. The Chancellor of the Duchy of Lancaster has approved the Acquisition, subject to certain requirements relating to payments, communications between the parties and FTDI’s activities following completion of the Acquisition.
6. The Chancellor of the Duchy of Lancaster considers that the measures contained within the final order are necessary and proportionate to remedy, prevent or mitigate the risks to national security relating to:
i. The past ownership of FTDI being used to pose a risk to critical national infrastructure which uses FTDI products.