UK Takes Chip Manufacturer Under Review

The UK intervened on national security grounds to buy Nvidia's chip maker Arm for $ 40 billion.

UK takes chip manufacturer under review. The British government issued a notice regulating public interest interventions on the grounds of national security after Nvidia's bid to buy the chip maker Arm for $ 40 billion. The declaration was published by the British Minister of Digital and Culture, Oliver Dowden. Providing information on the subject, Dowden said, “We published intervention legislation in terms of national security after our evaluations about the offer to buy Arm. Now the UK independent competition authority will prepare a report on the effects of this process.” Dowden stated that they support the IT sector and they welcome foreign investment, but they have to evaluate the effects of such acquisitions on national security. On the other hand, Nvidia's spokesperson made a statement regarding the issue. In the said statement, spokesperson said, “We do not think that this transaction poses a threat to national security. We will continue to work closely with British officials on this issue. ” Arm, which is currently owned by Softbank, has not yet commented on the subject.