Asked by: Lord Broers (Crossbench - Life peer)
Question to the Department for Digital, Culture, Media & Sport:
To ask Her Majesty's Government whether they have requested that the Competition and Markets Authority investigate the potential purchase of ARM by Nvidia; and if not, what plans they have to do so.
Answered by Baroness Barran - Parliamentary Under-Secretary (Department for Education)
The government is clear that Arm is an important part of the UK's technology sector and makes a significant contribution to the UK economy.
The Competition and Markets Authority bears responsibility for assessing any competition impacts arising from the proposed deal and it will be following its normal regulatory processes in examining this deal. Separately, the Secretary of State also has the responsibility for determining whether or not to refer an acquisition on public interest grounds if relevant thresholds in the Enterprise Act 2002 are met. As such, we are examining this potential acquisition carefully.
We note that it is subject to regulatory approvals in multiple jurisdictions and is not expected to complete until 2022. It would be inappropriate to comment further at this stage.
Asked by: Lord Broers (Crossbench - Life peer)
Question to the Department for Digital, Culture, Media & Sport:
To ask Her Majesty's Government what assessment they have made of (1) the acquisition of Arm by NVIDIA, and (2) whether such an acquisition is in the national interest.
Answered by Baroness Barran - Parliamentary Under-Secretary (Department for Education)
Arm is an important part of the UK's technology sector and makes a significant contribution to the UK economy. The Government monitors acquisitions and mergers closely. When a takeover may have a significant impact on the UK we will not hesitate to investigate further and take appropriate action. We are examining this deal carefully.