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.
A Cambridge based technology firm is likely to be sold to a Japanese company for 24 billion pounds.
ARM Holdings make microchips for various smartphones including those made by Apple and Samsung. SoftBank, who want to take it over, say it'll double the number of staff.
The Prime Minister has welcomed the investment but the local MP is more cautious.
Click below to watch a report by ITV News Anglia's David Wood.
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