Comment It is a UK company (?) (Score 4, Informative) 46
I have no idea what is meant by 'It is a UK company'. Factoids to show how murky that statement is:
- - From inception until first IPO in 1998, ARM was a UK company majority-owned by UK nationals, run by UK nationals in UK (Cambridge HQ)
- - After IPO, and being internationally reachable on LSE, ownership diffused, though still largely UK owned (including instituional investors)
- - Until 2014, the CEOs of ARM (R Saxby, W East) were UK nationals living in UK and regularly worked out of the UK HQ in Cambridge. Senior Management (CEO, COO, CTO, CIO) were still largely based in UK, though a number of senior roles had become US-based
- - In 2014, Simon Segars, a UK national resident in USA (Silicon Valley) became CEO. Segars committed to moving back to the UK to lead from HQ. This did not happen, and an acceleration/concentration of US-based executive leadership began instead.
- - until 2016 at least, the majority of ARM employees were UK based, and Cambridge HQ was by far the largest office (by headcount)
- - 2016 saw acquistion of ARM by Softbank. 100% (or near enough) of shares were purchased by a Japanese entity. Concentration of senior management to USA (Bay Area) accelerated further. Acceleration of hiring in non-UK areas (Bay Area, Austin, notably) also resulted from new Softbank-fueled investment
- - At end 2021 we have a Japanese-owned company, run by a UK CEO in USA, with many (most?) significant senior roles occupied by USA citizens residing in USA, and where the majority (data missing to assert this 100%) of employees are NOT UK-based.
I find the last point hard to square with 'It is a UK company'. It also makes me laugh to see UK government raising not one but two streams of objection (markets, national security) to the Nvidia deal, when the same government waved the softbank deal through with nothing but a few conditions, to which Softbank has been careful to pay only lip service.