President Donald Trump has blocked the $3 million acquisition of New Jersey-based aerospace and defense company Emcore by U.S. photonics firm HieFo Corp, citing national security concerns linked to China. In a White House order, Trump stated that HieFo was “controlled by a citizen of the People’s Republic of China” and that its 2024 purchase of Emcore’s assets could potentially threaten U.S. national security. The order did not specify the individual involved or provide further details on the security concerns.
Trump directed HieFo to divest all interests and rights in Emcore’s assets within 180 days, effectively prohibiting the transaction. The Treasury Department confirmed that the Committee on Foreign Investment in the United States had identified a national security risk during its review, though no specific threat was disclosed.
At the time of the deal, HieFo acquired Emcore’s chips business and indium-phosphide wafer fabrication operations for $2.92 million. Emcore, which was publicly traded before being taken private, and HieFo have not issued immediate comments regarding the order. HieFo was co-founded by Genzao Zhang, a former Emcore vice president of engineering, and Harry Moore, a former senior sales director at Emcore.
