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The British chip designer was bought by Japan's Softbank in 2016 for $32 billion.
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The British chip designer was bought by Japan's Softbank in 2016 for $32 billion.
I'd be up for some of that on the long term..
Never understood why the UK let this get sold to a foreign company in the first place...
If nothing else it gave us 'home grown' cpu's we could fall back on if we ever needed them.
Having said that, considering the news a few days ago about arm shifting away from IoT and giving that part to Softbank, this news does seem rather strange unless of course the real target for Softbank was the IoT stuff.
So another UK business will probably be broken up longterm. Softbank is already keeping some parts of ARM itself,so bit by bit it will be broken up,and merged with other companies. This is what happened with Imagination Technologies too after Apple screwed them over.
You mean they will keep the profits and sell off the promises made to the UK government?Quote:
Originally Posted by CAT-THE-FIFTH
Long term I believe IoT belongs to RISC-V chips, so good luck to them with that.
One of the things the UK does is start companies, grow them and sell them off, just as Germany makes cars.
It's not a bad thing - the money received for the sale is re-invested back to create other businesses, it doesn't just vapourise.
Yet despite all the promises,all of you big companies eventually end up being broken up this way,and bits being merged with other companies.Quote:
Originally Posted by DanceswithUnix
Bit by bit the UK is becoming more dependent on foreign countries,and we are running huge deficits despite cutbacks due to the lack of well paying jobs.Hence taxes need to be kept relatively low in the UK. It's not only foreign companies but "investment specialists" who do the same - many buy up healthy companies,then bleed them dry,raid pensions,etc. It's why so many well known companies over here have collapsed - you only need to see the money being pilfered away from the businesses over time,and the lack of investment. I have seen it happen with biotech companies here who got bought up,then moved whole operations abroad,and shut down UK based ones.Quote:
Originally Posted by gagaga
The money is usually moved off shore,to avoid taxes,etc. Germany,France,US etc can do things we could do several decades ago,but we offshored or sold off many of the companies which could do such things. The reason is because their governments do more to stop selling of important companies,or to prevent their break up. Another company which is eventually going to go that way is GKN.
This is after all the first and only country to make an indigenous space launch capability,then cancel it to buy from the US,which then jacked up launch prices for us. The French took that opportunity and made Arianespace,and hired a number of our rocket engineers away,which at the same time helped partially cover R and D for their SLBMs,reducing overhead for their taxpayers,and creating more high technology jobs in the country.
So in the end creating ideas means nothing,if the vast amount of economic benefits are derived by foreign companies,and that includes physical jobs. Most of the population still needs work to be done,unless everyone is to work in a supermarket,etc.
This is money invested by taxpayers into our education system,so we are essentially paying to enrich other countries.
The problem with just designing stuff,is that the offices can be anywhere in the world,and don't need to be in the UK. So they can hire away our own people to move abroad if they feel it's more cost effective. This is why the UK has over 6 million people who live and work abroad.