Core Points - The U.S. President ordered HieFo Corporation to divest a $2.9 million acquisition of chip assets from Emcore due to national security concerns [1] - HieFo's acquisition included semiconductor manufacturing facilities and digital chips, which posed a risk of diverting supply away from the U.S. [2] - The deal was not reported to the Committee on Foreign Investment in the United States (CFIUS), leading to a review of the transaction [3] Company Overview - HieFo Corporation was founded by Genzao Zhang and Harry Moore through a management buyout of Emcore's wafer fabrication and chip-related assets [5] - The company claims to have over 40 years of experience in indium phosphide chip manufacturing [6] - Emcore specializes in manufacturing navigation equipment, including gyroscopes and sensors for various applications, including defense [6] Regulatory Actions - CFIUS identified national security risks related to potential access to Emcore's intellectual property and expertise [4] - HieFo has been ordered to divest all acquired assets within 180 days and restrict access to Emcore's technical information [4]