Exclusive: SoftBank-backed CloudMinds blocked from exporting U.S. tech to China [Reuters]
CHINA MOBILE (CHL)
US:NYSE Investor Relations:
chinamobileltd.com/en/ir/reports.php
Company Research
Source: Reuters
Exclusive: SoftBank-backed CloudMinds blocked from exporting U.S. tech to China TOKYO/NEW YORK (Reuters) - SoftBank-backed startup CloudMinds has been blocked from sharing U.S.-origin technology with its China business, documents showed, illustrating how increased U.S. government restrictions are creating new headaches for tech firms and their investors. The U.S. Commerce Department sent a letter in July informing CloudMinds it could not transfer technology or technical information - even software bugs - from its U.S. unit to its offices in Beijing without licenses, according to a company training video and internal communications reviewed by Reuters. The provider of cloud-based systems for robots learnt of the sweeping restrictions - reported here for the first time - just as it was wooing ultimately unconvinced investors for a proposed U.S. initial public offering (IPO). No licenses have been issued, said a person with knowledge of the matter, declining to be identified because the
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