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£31bn sale of UK’s Arm Holdings is a ‘disaster’ says co-founder

£31bn sale of UK’s Arm Holdings is a ‘disaster’ says co-founder

Business
UK-based chip designer Arm Holdings is to be sold to America's Nvidia in a deal worth up to $ 40bn (£31bn).But the sale was described as a "disaster" by Arm's co-founder. Nvidia said the company - which licenses its chip designs for use by major electronics brands such as Apple - would remain based in Cambridge and its site expanded. Image: SoftBank bought Arm in 2016 However, Arm's co-founder Hermann Hauser told Sky News: "It's a disaster... for Cambridge, the UK and Europe."He pointed to a potential impact on UK jobs, damage to Arm's business model and the fall-out that would result from the products in which its technology is used being subject to US export controls. ...