Cambridge MP Daniel Zeichner says the Government must intervene in the sale of Cambridge-based tech company ARM to American chip-maker Nvidia, following confirmation of the £40bn sale.
MP reacts to news of Arm acquisition
The company has promised to maintain the unique business-model and keep the HQ in Cambridge, but, he says, there are no guarantees:
“The promises are welcome, but sadly, they are just that - promises. We need guarantees: guarantees that ARM’s unique business model is maintained; guarantees that the HQ remains in Cambridge; and guarantees that decisions are made in the UK, not in America - this is a vital national security issue. Only Government intervention can secure this. As a country, we risk handing our key technological bargaining chip straight to a competitor.”
Dr Hermann Hauser, Arm co-founder and a founder director of Cambridge Network, has long said that the government should safeguard Arm's economic sovereignty.
Claire Ruskin, executive director of the Network, added: "I agree with the dangers, but this can also be a very positive collaboration if we look for the best business sense. Arm's site in Cambridge has grown and developed with Softbank funding and Nvidia must recognise the strength of having great people and great intellectual property. There is still a huge technological future ahead, solving healthcare and energy and environmental challenges which need massive funding to deploy very talented people – in particular talented Arm employees present and future who work productively in Cambridge and the UK."
See also: NVIDIA to acquire Arm for $40 billion
MP for the City of Cambridge constituency.