Keysight Technologies Inc. agreed to pay $473,157 on behalf of a former subsidiary to settle apparent violations of U.S. sanctions on Iran, the U.S. Treasury Department said.
The settlement, announced Thursday, underscores the risks U.S. companies face when acquiring foreign companies with customers in blacklisted jurisdictions.
Anite Finland Oy, the former subsidiary, was based in Finland and had existing business in Iran prior to being acquired by Santa Rosa, Calif.-based Keysight in 2015, according to the Treasury’s Office of Foreign Assets Control, which enforces U.S. sanctions. Before the acquisition, Anite agreed to stop conducting business with sanctioned countries such as Iran, OFAC said.
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