The UK Secretary of State for Digital, Culture, Media and Sport has intervened in the sale of smartphone chip producer ARM Limited to NVIDIA Corporation. The $40 billion sale agreement was announced between NVIDIA and Softbank, ARM's current owner, in September 2020.
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The UK's Competition and Markets Authority has asked interested parties to comment on the potential impact of the planned $40 billion NVIDIA Corporation takeover of UK-based chip designer Arm Limited. A formal investigation is expected later this year.
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Computer graphics pioneer NVIDIA is acquiring UK-based mobile chip specialist Arm in a deal that's valued at $40 billion (approximately £31 billion). It's buying Arm Ltd from SoftBank, which acquired the company four years ago.
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UK-based microprocessor designer ARM Holdings has published quarterly results that show revenue up 26% year-on-year.
Revenue reached £171.2 million, while pre-tax profit was up 30% to £86.6 million. The company also said it had generated a record £96 million in cash.
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I’m moving on up, you’re moving on out
Mark Bridge writes:
Farewell, ST-Ericsson. It didn’t bode well when CEO Didier Lamouche announced his planned departure a couple of weeks ago – and now both STMicroelectronics and Ericsson have confirmed they’ll be splitting the company between them before closing it down.
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