Apr 4, 2019 - World

U.S. mandates sale of another Chinese-owned tech company

In this image, two boxing gloves with an American flag, and one with the Chinese flag, beat against each other.

Illustration:Rebecca Zisser/Axios

PatientsLikeMe, a health-tech startup that connects patients with similar medical conditions, is being forced to find a buyer after the Committee on Foreign Investment in the U.S. (CFIUS) ordered Chinese firm iCarbonX, its majority owner, to divest its stake in the company.

The big picture: This is the latest sign of the Trump administration's growing concern over Chinese ownership of U.S. firms that collect consumer data. CFIUS ordered Beijing Kunlun Tech to give up its control of Grindr last week, arguing the Chinese firm's ownership of the app — which came under fire last year for sharing customers' HIV status — constituted a threat to U.S. national security.

Our thought bubble, per Axios' Ina Fried: The questions now are where the U.S. will draw the line when it comes to Chinese acquisitions and how far back it will go to unwind deals.

Go deeper: Nationalist concerns are splintering global tech

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