Acquisition of HiLight Research limited by SiLight (Shanghai) Semiconductors Limited: notice of final order
Published 19 December 2022
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1. The Secretary of State for Business, Energy and Industrial Strategy (“the Secretary of State”) has made a final order pursuant to section 26 of the National Security and Investment Act 2021 (“the Act”), which comes into force on 19 December 2022.
2. The Parties who are subject to the order are:
i. SiLight (Shanghai) Semiconductor Limited (“the Acquirer”).
ii. HiLight Research Limited (“the Target”).
3. The Acquirer will acquire a 100% shareholding in HiLight Research Limited. The acquirer did not previously hold any shareholding in HiLight Research Limited. This acquisition constitutes a trigger event under section 8(2)(c) of the Act.
4. The order has the effect of preventing the acquisition of HiLight Research Limited by the Acquirer to mitigate the risk to national security.
5. The Secretary of State considers that a risk to national security arises relating to:
i. The potential for HiLight Research Limited’s technology to be used to build technological capabilities which may present national security risks to the UK.
6. The Secretary of State considers that the final order is necessary and proportionate to mitigate the risk to national security.