UK govt intervenes in Arm, Nvidia deal on national security concerns

News Wireless United Kingdom 19 APR 2021
UK govt intervenes in Arm, Nvidia deal on national security concerns

The UK government has issued a public interest intervention notice (PIIN) in relation to the proposed sale of UK-based chip designer ARM to US company Nvidia. Digital Secretary Oliver Dowden has ordered the Competition & Markets Authority (CMA) to launch a 'phase one' investigation into the deal. The CMA is now inviting interested parties to comment on national security considerations in a consultation which closes on 14 May. 

Dowden said he was intervening on national security grounds after receiving advice from investment security community officials. The CMA has until 30 July 2021 to complete and submit its report to the Secretary of State.

SoftBank agreed to sell ARM to Nvidia in autumn 2020 in a deal valuing the company at around USD 40 billion. The deal has been approved by the boards of ARM, SoftBank and Nvidia, and if cleared by regulators, will see Nvidia pay USD 12 billion in cash and USD 21.5 billion in Nvidia shares for the company. 

 

 

Categories:

Mobile,  IT

Companies:

ARM,  Nvidia,  Softbank

Regions:

Global

Countries:

United Kingdom

Tags:

Components, Semiconductors, Company, Corporate, Wholesale, Enterprise, Client, M&A buyouts & divestments

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