Companies Disclose CFIUS Notifications
Several companies this month disclosed their filings with the Committee on Foreign Investment in the U.S. or updated the status of their ongoing CFIUS reviews. The American telecommunications company Vonage is awaiting a CFIUS decision before completing its transaction with Swedish telecom company Ericsson, Vonage said in a Securities and Exchange Commission filing. Vonage said it doesn’t expect CFIUS to object to the deal, which should be finalized in the first half of this year.
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U.S.-based Pine Technology Acquisition, an acquirer of insurance technology firms, and The Tomorrow Companies, which runs a climate security platform, were told their deal wasn’t subject to CFIUS approval, Pine Technology said in an SEC filing. The companies submitted a short-form declaration to CFIUS in December.
Mimecast, a U.S. information technology security company, agreed to be acquired by U.K.-based Magnesium Bidco, and the companies submitted a notification to CFIUS in January, Mimecast said in an SEC filing. Both companies agreed to “undertake best efforts” to obtain CFIUS approval and comply with any potential conditions imposed by the committee.
Norton LifeLock, an American software company, and Avast, a multinational cybersecurity company, submitted notifications about their planned transaction to both CFIUS and the U.K. under the U.K.’s recently enacted National Security and Investment Act, Norton said in an SEC filing.