Citing access to U.S. data, CFIUS takes aim at another Chinese company’s investment

At the behest of the Committee for Foreign Investment in the U.S., President Trump on Friday dissolved a 2018 acquisition of a Maryland-based mobile hotel property management system by a Chinese company and ordered the U.S. firm to immediately restrict access to hotel guest data. Beijing Shiji Information Technology acquired StayNTouch in September 2018. CFIUS initiated a review of the transaction and ultimately disapproved it, ordering Shiji to fully divest from StayNTouch in 120 days, with the possibility of a...