SAN FRANCISCO/WASHINGTON :The U.S. Federal Trade Commission on Thursday sued to block U.S. chip supplier Nvidia Corp's planned US$50 billion-plus acquisition of British chip design provider Arm.
The FTC said the proposed vertical deal would give one of the largest chip companies control over computing technology and designs that competitors rely on to develop their own competing chips. Arm, Britain's most important tech company that was sold to Japan's SoftBank in 2016, licenses its blueprints to major chipmakers such as Apple, Qualcomm and Samsung Electronics, underpinning the global smartphone ecosystem.
Nvidia said"as we move into this next step in the FTC process, we will continue to work to demonstrate that this transaction will benefit the industry and promote competition." Arm declined to comment.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: TODAYonline - 🏆 1. / 99 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »