Presidential Order on StayNTouch Acquisition by Beijing Shiji Information Technology
On March 6, 2020, the Trump administration issued Presidential Order 2020-05011 regarding the proposed acquisition of StayNTouch, Inc., a U.S. hospitality software company, by Beijing Shiji Information Technology Co., Ltd., a Chinese company. The order blocked or restricted the transaction based on national security concerns. The direct effect was to prevent the Chinese company from acquiring control of the American software platform used by hotels and hospitality businesses.