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Examples
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ANTONIO MUGICA, CEO, SMARTMATIC: There's absolutely no foreign government ownership or control over Smartmatic.
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ANTONIO MUGICA, CEO, SMARTMATIC: There's absolutely no foreign government ownership or control of Smartmatic.
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Dominion's Riggall admitted directly in a follow-up reply email to The BRAD BLOG, after we'd sent a direct query on this point [emphasis his]: "Smartmatic IP was not included in the Sequoia transaction, since Sequoia did not own it."
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As part of a detailed investigative exposé series in 2008, as we broke the story of Hart Intercivic's quietly attempted hostile takeover of Sequoia, we revealed the fact that -- despite representations to the contrary, possibly even to U.S. government investigators -- the IP for the vast-majority/near-entirety of Sequoia's voting systems was actually secretly owned by the Hugo Chavez-tied, Venezuelan-based firm, Smartmatic.
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Sequoia was then supposedly purchased away from Smartmatic by a team of its U.S. executives, in order to make it fully independent from the Chavez-tied parent company.
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The initial concern had coming following revelations that Smartmatic seemed to be directly tied to the Venezuelan President Chavez.
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Sequoia hadn't publicly disclosed that Smartmatic still retained legal ownership of the IP used in all of their voting machines, a fact that wasn't publicly revealed until our exposé which forced a subsequent admission by Sequoia's then CEO and President Jack Blaine.
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Blaine admitted -- in what he thought was a "confidential" company-wide conference call convened to explain the attempted Hart takeover to employees after they'd read the news on The BRAD BLOG -- that the company hadn't actually acquired the the IP from Smartmatic in their deal.
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Angry sentiment led by CNN's Lou Dobbs and some members of Congress (including NY's Democratic Rep. Carolyn Maloney) led to an investigation by the federal Committee on Foreign Investment in the United States (CFIUS), subsequently forcing Smartmatic to divest of Sequoia.
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Smartmatic still hasn't submitted its incorporation papers to the Philippines Comelec, and its local partner, TIM, has pulled out of the joint venture.
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