Acquisition of an additional 48.9% shareholding in Agile Analog Limited by Delin Ventures Limited: notice of final order variation
Updated 17 December 2025
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1. The Chancellor of the Duchy of Lancaster, has varied a final order pursuant to section 27 of the National Security and Investment Act 2021 (“the Act”). The variation comes into force on 17 December 2025.
2. The parties who are subject to the order are:
a. Delin Ventures Limited; and
b. Agile Analog Limited.
3. Delin Ventures Limited gained control of the qualifying entity, Agile Analog Limited by increasing the percentage of shares held in Agile Analog Limited from less than 75% to 75% or more (“the Acquisition”).
4. The Acquisition is a trigger event under section 8(2)(c) of the Act.
5. The Chancellor of the Duchy of Lancaster allowed the acquisition to proceed subject to the condition that the parties:
a. Meet certain requirements relating to corporate governance, including composition of, and decision-making relating to, the Agile Analog Limited Board of Directors, and including UK Security Vetting clearance for certain members of the Agile Analog Limited Board of Directors; and
b. Provide advance notification to HM Government in the event of a transfer of Agile Analog Limited’s assets or intellectual property to Delin Ventures Limited.
6. The Chancellor of the Duchy of Lancaster considers that these measures are necessary and proportionate to remedy, prevent or mitigate the risks to national security relating to Agile Analog Limited’s role as a supplier to the microelectronics industry.
7. The variation of the final order amends the deadline by which certain criteria in the final order must be met.