UK Blocks Takeover of Tech Company Pulsic by Hong Kong-Based Firm on Security Grounds

Britain's Business Secretary Kwasi Kwarteng delivers a speech at the launch of the campaign of Foreign Secretary Liz Truss (not seen) to become the next leader of the Conservative Party, in London, on July 14, 2022. Justin Tallis/AFP via Getty Images

The UK government has blocked a proposed takeover of an electronic design company by a Hong Kong-based firm on national security grounds.

In an Aug. 17 order, Business Secretary Kwasi Kwarteng ruled that the acquisition of the Bristol-based Pulsic by Super Orange HK Holding shouldn’t proceed.