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2016
The acquisition has drawn the Competition and Markets Authority’s (CMA) attention. It has requested interested third parties submit their views on the deal before a formal investigation is launched later this year.
The CMA says it will work with other competition authorities worldwide to consider the impact of the deal. The agency said its primary concern is to ensure the takeover doesn’t result in consumers facing inferior or lower-quality products.
“The chip technology industry is worth billions and critical to many of the products that we use most in our everyday lives,” said CMA chief executive Andrea Coscelli in a statement.
Photo: Justin Sullivan (Getty Images)
When Nvidia announced back in September that it had reached a deal to buy Arm Limited for $40 billion, a regulatory investigation was just a matter of time. And lo, the UK’s Competition and Markets Authority (CMA) has begun soliciting third-parties to weigh in on how the deal might affect competition ahead of an investigation slated to start later this year.
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It hasn’t exactly been a good time for giant tech mergers and Nvidia buying Arm counts as an extremely big merger with a far-reaching impact. For starters, Arm’s CPU architecture is in almost every gadget you use on a daily basis, while Nvidia is the king of GPUs. Even though Arm technically doesn’t make chips itself, the fact that it licenses its tech to other major players like Apple, Intel, Samsung, Qualcomm, and Huawei, means very few companies
Embedded SIM Market Revenue Continues to Dominate with CAGR of 29 9% Globally To 2027 sandiegosun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sandiegosun.com Daily Mail and Mail on Sunday newspapers.
This story originally appeared on StockNews
The COVID-19 global pandemic has wrought the biggest economic crisis since the Great Depression of 1929. With its onset in March, global economies were forced to shut down and shut in and stock markets quickly collapsed, falling to multi-year lows. The S&P 500 index entered bear territory early in the year, erasing last year’s gains. The broader market index plunged from a high of 3,393 in February to a low of 2,191 on March 23, registering a 35.4% loss in just 33 days.
Since plumbing those lows in March, the index has had an impressive rally and recovered the bulk of the losses. The S&P 500 is up nearly 64% since then. Stocks rose to fresh all-time highs last week as Pfizer (PFE) started to roll out its coronavirus vaccine in the UK, lifting hopes of a quick economic recovery worldwide. The S&P 500 closed above 3,700 for the first-time last week, gaining 13.5% year-to-date. Yet, there’s wide variance in the performance of its