The Government is examining the sale of UK-based computer chip design firm Arm to US tech giant Nvidia, with Boris Johnson taking a personal interest in the deal, his spokesman said.
Earlier on Monday, it was announced that the firm is to be bought by the US graphics chip maker in a deal worth 40 billion dollars (£31.2 billion).
Nvidia has pledged to keep Arm’s headquarters in Cambridge while also promising to expand on Arm’s work to build a “world-class” technology centre.
Arm is best known as the designer of processor chips used in most major smartphones – including Apple and Samsung – as well as other devices such as laptops.
Now the Government has confirmed it will examine the deal closely in order to understand its impact on the UK and the economy.
“We recognise the vital role Arm plays in the UK’s tech sector and its significant contribution