October 3, 2022
Arm-Nvidia deal: UK assesses impact of sale, says minister

Digital Minister Carolyn Dinez said Britain is assessing the impact of the sale of the chip designer arm to American company Nvidia, which includes a commitment to keep its head office and staff in Cambridge, east England.

“We are currently working very hard to understand the full impact of this move and the potential impact it might have on the future, and from there we are able to consider what action we want to take,” he said. told MPs on Tuesday.

Nvidia, America’s largest chip company by market capitalization, has agreed to buy Arm from Japan’s SoftBank for $40 billion (about Rs 2,93,572 crore).

Dinnage said the minister would consider commitments by SoftBank and Nvidia to maintain Arm as a successful British business “incredibly carefully”, and that the government had already discussed it with the parties involved.

He said the decision to intervene in the deal would be taken by the Secretary of State for Digital, Culture, Media and Sport after considering relevant information.

Arm, the leading tech company in Britain, lost its independence in 2016, when it was sold to SoftBank by the Japanese conglomerate after it promised to retain the company’s headquarters in Cambridge, England and increase jobs.

Nvidia CEO Jensen Huang has made similar commitments.

Arm’s energy-efficient architecture underpins processors made by Apple, Samsung, Qualcomm and others, making the technology ubiquitous in smartphones as well as present in many other devices.

© Thomson Reuters 2020


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