McG
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Canada orders dissolution of two companies for national security reasons
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Huh. Bound to be a super interesting story behind this that we’ll never hear.
Here’s the ISED (formerly Industry Canada) page with some basic info on the Investment Canada Act and their role in national security reviews of foreign investment.
Investment Canada Act
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That’s interesting. Bluvec has a test facility just south of Kamloops. The company seems to be engaging in deep packet inspection of drone signalling, and changing the telemetry and return content, which means they are somehow gaining control of the video channels and all of the associated data.
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That will get you blacklisted…unless you deeply on our side.
OldSolduer
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Which to me means they are experimenting and training people to be cyber warfare types? SWAG only....
Scientific Wild Ass Guess.
Retired AF Guy
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Both companies are located on the same street in Burnaby, B.C.; Bluvec at 3999 Henning Dr. and Pegauni at 3855 Henning. And both companies were founded in 2018.
Linked-in has the following info for Pegauni Technologies. This website states that Pegauni has revenues of 2.8 million and employees 13 people.
Bluvec has a more illustrious history as it was sued in 2018 for stealing drone technology from another company Skycope. Apparently the owners of the two companies were best friends until this little dustup. All the sordid details can be found here.
Bluvec website.
Company information on Bluvec can be found here.
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All of their pictures look like the sex-bots that request to follow on X.
Brad Sallows
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The part of Burnaby Henning Dr runs through has been an informal "tech park" for decades. Nothing unusual about that part.
OldSolduer
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Probably due to encouragement down here…
Tough to gauge. This isn’t a new thing; it’s a quiet part of our national security apparatus but it’s been there for a while. The Orders in Council for these Investment Canada Act orders aren’t published, they’re among the small number of secret OiCs each year. We only hear about them if ISED actually publishes a news release, or if the order is challenged in court.
At a quick search I found a couple from recent years- I’ve found cases where Canada prevented Chinese investment in a Canadian rare earth minerals company, another one of Chinese investment in a Canadian telecoms company… So it looks like the ICA reviews are being used to help stave off foreign economic interference.
What seems relatively new here is the proactive public announcement of the actions taken. Maybe that’s not actually new and I just haven’t noticed before, or maybe it’s a deliberate shift in comms strategy? Not sure.
lenaitch
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Perhaps. I recall news items about disallowing or preventing a foreign investment or ownership; i.e. preventing something from happening, but not one of dissolution of a business relationship that is already in place.
I'm all for it, and I'm not one of those who believe that the business of national security, defence or foreign affairs must be performed in a glass house. It just struck as uncharacteristically decisive from a government and bureaucracy that are characteristically and somewhat proudly undecisive.
Brad Sallows
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No LPC ownership nexus, I suppose.
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Just for the record, the info-machine's version ...
www.canada.ca
Also archived here.
Government of Canada orders the dissolution of Canadian businesses following a national security review under the Investment Canada Act - Canada.ca
The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, made the following statement
Very good point - from BC biz media ....
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Well, well, well…
Isn’t that cosy?
Isn’t that cosy?
Just for the record, the info-machine's version ...
Also archived here.Government of Canada orders the dissolution of Canadian businesses following a national security review under the Investment Canada Act - Canada.ca
The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, made the following statement
Very good point - from BC biz media ....
View attachment 85513
Reads like classic insider intellectual property theft by an employee on their way out. Interesting.
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Doesn’t exactly scream National Security issue, unless the technology was migrating again…
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If the BC biz media quoted the BC Supreme Court documents correctly, I'd have to wonder just how ... arms length from The Big Bosses any Chinese "cybersecurity company" would be allowed to be.
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