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September 26, 2020 
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UK to want job guarantees from NVIDIA to greenlight ARM acquisition

Posted on Wednesday, September 16 2020 @ 08:18:08 CEST by


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Over the weekend, NVIDIA announced it's acquiring ARM for $40 billion. The announcement from the GPU maker contained some (non-legally binding) commitments to keeping the ARM HQ and jobs in the UK, but it seems the latter wants more guarantees.

A new piece from Bloomberg reports the UK is unlikely to block the acquisition -- but that it will impose conditions on NVIDIA. The main focus is expected to be on keeping the ARM HQ in Cambridge, and guarantees about maintaining about 3,000 UK staff:
Officials are unlikely to block the $40 billion sale, the people said, asking not to be identified because the talks are private. But the conditions are expected to focus on maintaining the about 3,000 U.K. staff, and keeping the company’s headquarters in Cambridge.

Current owner, Tokyo-based SoftBank Group Corp., made similar voluntary but legally-binding commitments after it bought the semiconductor giant in 2016 for $32 billion, pledging to at least double employees in the U.K. over five years.




 



 

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