Shrilekha Pethe- April 20, 2021, 9:16 AM EDT SHARE ON:
Nvidiaâs proposed $40 billion acquisition of Cambridge-based Arm is in trouble. On Monday, the UKâs Secretary of State issued an intervention notice on behalf of the UK Government citing national security interests.
In September 2020, the $40 billion acquisition of Arm from the SoftBank Group was presented by Nvidia (
NVDA) with the intention of building an artificial intelligence (AI) supercomputer powered by the two companies. The deal would allow Arm to expand its intellectual property (IP) licensing portfolio using Nvidia technology. Arm has shipped over 180 billion microprocessor chips to-date.
The UK Governmentâs intervention notice stated, âWhereas the Secretary of State believes that it is or may be the case that a public interest consideration is relevant to a consideration of the relevant merger situation. Now, therefore, the Secretary of State in exercise o
Sundial Growers (
SNDL), a licensed cannabis producer was the most actively traded stock in pre-market trading as the company stands to benefit from the US House of Representativesâ vote in favour of legislation that seeks to allow banks to legally serve cannabis producers.
Akers Biosciences (
AKER) was the biggest gainer in pre-market trading, up by 42.2% at the time of writing. There was no fundamental news explaining the gain in the stock price. However, the company was listed on the NASDAQ yesterday following last weekâs approval by shareholders of the merger with AKER.
Caci International (
CACI) was the biggest laggard dropping 17% in the pre-market despite being awarded a $376 million contract by the NGA.
Cambridge tech company Arm sale blocked on national security grounds
The Culture Secretary has intervened in the £29.4 billion deal
Updated
Arm s headquarters on Fulbourn Road, Cambridge (Image: Yesme@)
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The sale of one of Cambridge’s biggest technology companies is being blocked by the government on the grounds of national security.
Dialog takeover is a disaster for Europe says Arm pioneer
Hermann Hauser said Dialog had developed world leading technology that should be kept in Europe
Hermann Hauser is a founder of Acorn, the business which created the Arm technology
Credit: Chris Williamson
A Japanese takeover of Reading-based Dialog Semiconductor has been branded a disaster for Europe by Arm pioneer Hermann Hauser.
Chip designer Dialog announced earlier this week that it had agreed to a €4.9bn (£4.3bn) takeover by Renesas Electronics, a Tokyo-based company which is among the largest suppliers of automotive chips.
Hermann Hauser, the founder of Acorn whose technology was spun out to create Arm and a venture partner at Amadeus Capital Partners, said Dialog had developed world leading technology.
Digital Drive: Pandemic reveals Cambridgeshire s deep deprivation divide
Around 8,000 school children do not have access to suitable tech to help them learn from home, meaning they risk falling behind their more fortunate peers
Updated (Image: Cambridge News)
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