Transactions are approved, but with several conditions to be met.
The UK government is demanding a Chinese company appoint a chief security officer with UK security vetting clearance to complete a majority shareholding.
In a Cabinet Office notice, two transactions are detailed: the first relates to Nanjing Techcomp Era Scientific Instrument indirectly acquiring a 66.7 percent shareholding in Isotopx Ltd, and the other relates to Future Industry Investment Fund II acquiring 48 percent of the shares of Nanjing Techcomp Era Scientific Instrument and, as a result, will gain control of a 32 percent shareholding in IsotopX Ltd.
Whilst the Chancellor of the Duchy of Lancaster has approved the two linked transactions, several conditions require that:
- IsotopX retain operational activity and decision-making within the UK
- A chief security office is appointed to the IsotopX senior management team with UK security vetting clearance
- Certain requirements relating to IT equipment, data storage, access and handling are met
- Certain protocols concerning visits to the IsotopX site and business travel are implemented
Written by
Dan Raywood is a B2B journalist with 25 years of experience, including covering cybersecurity for the past 17 years. He has extensively covered topics from Advanced Persistent Threats and nation-state hackers to major data breaches and regulatory changes.
He has spoken at events including 44CON, Infosecurity Europe, RANT Forum, BSides Scotland, Steelcon and the National Cyber Security Show, and served as editor of SC Media UK, Infosecurity Magazine and IT Security Guru. He was also an analyst with 451 Research and a product marketing lead at Tenable.
