{"id":23724,"date":"2020-09-15T15:39:17","date_gmt":"2020-09-15T14:39:17","guid":{"rendered":"https:\/\/unitelive.org\/?p=23724"},"modified":"2020-09-15T15:39:18","modified_gmt":"2020-09-15T14:39:18","slug":"tech-firm-deal-not-in-the-uks-national-interest","status":"publish","type":"post","link":"https:\/\/unitelive.test.igniteamt.com\/?p=23724","title":{"rendered":"Tech firm deal &#8216;not in the UK&#8217;s national interest&#8217;"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>The government must prevent the \u00c2\u014131 billion sale of UK software and semiconductor giant Arm to US multinational Nvidia in order to protect the UK\u00e2\u20ac\u2122s tech sector, Unite said today (September 15).<\/p>\n\n\n\n<p>The sale of Arm, the country\u00e2\u20ac\u2122s largest tech company, by its Japanese owner SoftBank to Nvidia risks the company\u00e2\u20ac\u2122s UK operations being run down and jobs and investment moved abroad, Unite warned.<\/p>\n\n\n\n<p>The union added that the government should be \u00e2\u20ac\u0098protecting tech firms from being hollowed out by detrimental takeovers and providing the investment needed for the sector as a whole to flourish\u00e2\u20ac\u2122.<\/p>\n\n\n\n<p>The union, which has a number of members at the firm\u00e2\u20ac\u2122s Cambridge headquarters, said that during an Arm internal meeting yesterday, staff were \u00e2\u20ac\u0098kept in the dark\u00e2\u20ac\u2122 about the sale and \u00e2\u20ac\u0098fobbed off\u00e2\u20ac\u2122 with protestations that nothing will happen for at least 18 months.<\/p>\n\n\n\n<p>Their worries have been echoed by the firm\u00e2\u20ac\u2122s co-founder Hermann Hauser, who has warned that it is in \u00e2\u20ac\u0098Nvidia\u00e2\u20ac\u2122s interest to kill Arm\u00e2\u20ac\u2122.<\/p>\n\n\n\n<p>Cambridge MP Daniel Zeichner, who has also expressed alarm about the deal, will be meeting online with Unite members at Arm this week so he can reflect their concerns in parliament.<\/p>\n\n\n\n<p>Unite regional officer Matt Whaley said, \u00e2\u20ac\u015bThis deal is not in the UK\u00e2\u20ac\u2122s national interest and could very well see Arm\u00e2\u20ac\u2122s UK operations run down, with jobs and investment being shifted overseas.<\/p>\n\n\n\n<p>\u00e2\u20ac\u015bArm Holdings is a global leader and major asset to the UK economy,&#8221; he added. &#8220;It would be madness to put this at risk by allowing Arm to be flogged to a multinational that would benefit from it being dismantled.<\/p>\n\n\n\n<p>\u00e2\u20ac\u015bOur members have valid worries about the Nvidia deal, which have not been helped by their being kept in the dark by Arm\u00e2\u20ac\u2122s leadership and fobbed off with excuses about the sale being 18 months away.<\/p>\n\n\n\n<p>\u00e2\u20ac\u015bCambridge Daniel Zeichner MP will this week be attending an online meeting with our members so he can pass their concerns on to the government, which must take action to prevent this sale going ahead,&#8221; Whaley went on to say.<\/p>\n\n\n\n<p>\u00e2\u20ac\u015bIf ministers truly want the UK to lead in science and technology, they should be protecting tech firms from being hollowed out by detrimental takeovers and providing the investment needed for the sector as a whole to flourish.\u00e2\u20ac\u0165<\/p>\n\n\n\n<p><strong><em>By Ryan Fletcher<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government must prevent the \u00c2\u014131 billion sale of UK software and semiconductor giant Arm to US multinational Nvidia in order to protect the UK\u00e2\u20ac\u2122s tech sector, Unite said today (September 15). The sale of Arm, the country\u00e2\u20ac\u2122s largest tech company, by its Japanese owner SoftBank to Nvidia risks the company\u00e2\u20ac\u2122s UK operations being run [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":23725,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[690,146],"wps_subtitle":"Government must prevent Arm sale to protect vital UK tech industry","_links":{"self":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/23724"}],"collection":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23724"}],"version-history":[{"count":2,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/23724\/revisions"}],"predecessor-version":[{"id":23727,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/23724\/revisions\/23727"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/media\/23725"}],"wp:attachment":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}