Lattice Semiconductor, nearly nine months into a stalled bid to sell the company to Chinese investors, said Friday it has sold a subsidiary in India and plans to cut an additional 30 jobs.

Separately, the Portland company and investment firm trying to buy it complained their $1.3 billion deal - still awaiting approval from the federal government - has been held up by politics "more than anything."

Lattice, Portland's largest tech company, announced in November that it planned to sell its business to a newly formed investment firm called Canyon Bridge Capital Partners.

The companies initially made it out to be a simple private equity investment, but ultimately acknowledged that Canyon Bridge receives its funding from the Chinese government. China has been investing aggressively in the chip sector, hoping to build its own domestic semiconductor industry.

The deal needs approval from the Committee on Foreign Investment in the United States (CFIUS), which reviews international transactions for potential national security implications. Lattice makes a class of relatively low end programmable computer chip and says it has been out of the defense market for several years.

However, a group of U.S. House members took an early stance against the transaction and CFIUS has taken no action on Lattice's sale, prompting the company to resubmit its application twice.

Investors never expected the deal would close - Canyon Bridge offered $8.30 a share for Lattice, but the stock has rarely been above $7 in the months since the companies announced their transaction. Shares in Lattice dropped 13 cents Friday morning, 1.9 percent, to $6.79.

Meanwhile, the broader chip industry has soared while Lattice sought to hold its business together awaiting a sale that may never close.

On Friday, Lattice said it will sell a subsidiary it owns in India to a company called INVECAS for $5 million. Lattice said 150 employees around the world will have a chance to work for the new owner.

Additionally, Lattice said it will lay off another 30 workers as part of an "initiative to reduce its infrastructure costs." The company had about 1,000 employees worldwide at the end of 2016; it's not clear how many work in Oregon.

In The Wall Street Journal on Friday, Canyon Bridge's management and Lattice's chief executive complained about the lack of action on their deal by CFIUS. Canyon Bridge partner Ray Bingham said "the concerns about all things China has been put under a very harsh light and emphasized in a very unfortunate way."

Another Canyon Bridge partner, Ben Chow, acknowledged that 99 percent of the firm's money comes from a state-backed Chinese investment fund but claimed, "We have never hidden anything" about the firm's funding sources.

In fact, though, Canyon Bridge and Lattice refused to discuss who was financing the deal when they announced it in November, and left the Chinese government's involvement out of the initial securities filings about the transaction. They later revised the filings with the additional information.

The Journal said that Canyon Bridge and Lattice considered appealing directly to President Trump to approve the deal, an unusual step, but appear to have opted against it.

"I know that President Trump is a really intelligent businessman," Lattice CEO Darin Billerbeck said. "I know that if you had 10 minutes to explain this deal to him, he would say it's a good deal."

-- Mike Rogoway; twitter: @rogoway; 503-294-7699