UK minister welcomes commitment to keep Arm in Cambridge

FILE PHOTO: NVIDIA logo shown at SIGGRAPH 2017
FILE PHOTO: An NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017. REUTERS/Mike Blake

September 15, 2020

LONDON (Reuters) – The British government is scrutinising the $40 billion plan by Nvidia <NVDA.O> to buy chip designer Arm and is happy to see a commitment to keep Arm’s headquarters in England, a government minister said on Tuesday.

“The government is taking a very close interest in this transaction,” John Glen, economic secretary to the Treasury, told parliament.

“It is pleasing to see yesterday that parties close to the transaction said that their headquarters would remain in Cambridge. It’s a matter that we are engaging very closely in.”

(Reporting by William Schomberg, editing by David Milliken)