On January 2, 2026, the U.S. government issued an executive order directing HieFo Corporation to divest certain assets comprising the digital chips and related wafer business it acquired in 2024. Here is the relevant background.
In February 2025, Velocity One acquired EMCORE Corporation, which subsequently became EMCORE LLC.
Nearly one year prior to that acquisition, on April 30, 2024, the former EMCORE Corporation—under the direction of the predecessor company's board of directors and management team—sold its digital chips and indium phosphide wafer design, fabrication, and processing businesses to HieFo Corporation, an unaffiliated third party.
Following this completed transaction, the Committee on Foreign Investment in the United States (CFIUS) conducted a review of the sale, which EMCORE Corporation and later EMCORE LLC fully cooperated with. HieFo Corporation was unable to resolve national security concerns identified by CFIUS relating to the ownership and control of HieFo Corporation, resulting in an executive order.
EMCORE LLC is not a party to this matter.
EMCORE LLC has cooperated fully with all relevant governmental agencies and remains in complete compliance with all applicable regulations. Business operations continue as normal.