FOR IMMEDIATE RELEASE:
October 11, 2018
Contact: Press@paul.senate.gov, 202-224-4343
WASHINGTON, D.C. – Yesterday, U.S. Senator Rand Paul (R-KY) sent a letter to Treasury Secretary Steven Mnuchin, who chairs the Committee on Foreign Investment in the United States (CFIUS), urging the Committee “to review the proposed acquisition of CA Technologies by Broadcom,” citing the need to ensure America’s national security is protected. Dr. Paul has also sent copies of the letter to President Trump and the other Committee members.
“CA Technologies provides support services to American critical infrastructure systems. For example, CA Technologies offers mainframe software and maintenance to American utilities, healthcare companies, and financial institutions. Additionally, the company provides network services to the U.S. Army, the Defense Information Systems Agency, and the Social Security Administration, among others. Clearly, CA Technologies is relied upon to handle and protect extremely sensitive information,” Dr. Paul wrote.
According to the Treasury Department, “CFIUS is an interagency committee authorized to review certain transactions involving foreign investment in the United States (‘covered transactions’), in order to determine the effect of such transactions on the national security of the United States.”
In his letter, Dr. Paul pointed to CFIUS’ action earlier this year to prevent Broadcom from acquiring Qualcomm based on national security concerns, going on to state, “Simply because Broadcom recently moved its domicile to the United States does not mean that it is no longer a Chinese-controlled company or that the national security concerns previously expressed by CFIUS no longer persist. Given the circumstances surrounding the proposed takeover of CA Technologies by Broadcom, a CFIUS review is entirely appropriate.”
You can read Dr. Paul’s entire letter to Secretary Mnuchin below: