Cambridge-based ARM Holdings, one of the UK's biggest technology companies, is set to be bought by a Japanese firm.
ARM, the most valuable tech company listed in London, is subject to a £24bn bid from SoftBank Group Corp.
The founder of ARM Holdings says the takeover of the Cambridge company by a Japanese firm is a 'sad day for technology in Britain'.
Hermann Hauser says the creation of ARM Holdings has been the 'proudest moment' in his life.
The company makes chips for smartphone brands such as Apple and Samsung and employs 3,000 people in Cambridge at the Science Park.
Japanese internet giant SoftBank has said it will double the number of staff in the UK. While the Chancellor of the Exchequer Philip Hammond has welcomed the sale, calling it a 'vote of confidence' in Britain.
But the MP for Cambridge Daniel Zeichner is not convinced, raising concerns about what happens in the long term.
Watch a short clip with Hermann Hauser.
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