Junko Yoshida, EETimes
10/2/2017 00:01 AM EDT
TOKYO — If Canyon Bridge Capital Partners (Palo Alto, Calif.) succeeds in purchasing Imagination Technologies without a hitch, it will be the very first time the Chinese government-backed buyout fund has closed any deal since the firm was founded in 2016.
To acquire the U.K.-based Imagination, Canyon Bridge must get British government approval. But the big monkey wrench in the works might be the Committee on Foreign Investment in the United States (CFIUS). In an interview with EE Times last week, Ray Bingham, partner at Canyon Bridge, told us he doesn’t believe the Imagination deal will be reviewed by CFIUS, because Imagination is U.K.-based. But he added, “You never know.”
Among all VCs, Canyon Bridge should well know the pitfalls in the current political climate. Bingham noted that “many technology deals have stalled in D.C."
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