“I don’t think they’re against interfering, they’re just ignorant…Once they realise how important it is, they may step in,” he said.

Hermann Hauser, cofounder of chip designer Arm, has hit out at the UK government for failing to stop Softbank’s $40 billion deal to sell the company to Nvidia.
SoftBank—which purchased UK-headquartered Arm in 2016 for $32 billion—was rumored to be exploring a sale in response to investor pressure to shore up its sprawling investment portfolio. Nvidia confirmed the deal earlier this month, though the acquisition could take up to 18 months to clear regulatory hurdles.
Speaking to Business Insider, Hauser — who no longer works for the company — blasted government officials as “ignorant” for failing to interfere in the sale.
“I don’t think they’re against interfering, I think they’re just ignorant … Once they realize how important it is to the UK economy, they may step in,” he said.
“Although Arm has been feted as one of Britain’s most successful tech companies, very few people really understand what it does or how important it is.”
Hauser went on to say that the sale represented a missed opportunity for Dominic Cummings, UK Prime Minister Boris Johnson’s most senior adviser, who recently told government staffers he was looking at “ways we can build [$1 trillion] tech companies”, as reported by Business Insider. 
“It’s a great opportunity for [Cummings] to build his $1tn tech company in Britain,” Hauser said. “He could do what he’s already done with OneWeb, I mean, why not? Spend a billion or two and become the anchor investor.”
In June, the UK government agreed to invest $500 million in British satellite operator OneWeb in exchange for a 45% stake in the company. However, senior officials warned the deal didn’t meet value-for-money requirements and could end up costing the taxpayer the entire investment.
Hauser last Monday launched a campaign to “save Arm”, writing an open letter to Boris Johnson calling either on a UK investment in Arm, or for guarantees the firm’s headquarters would remain in Cambridge and that jobs would be secured.
Arm is considered a crown jewel of British tech, licensing designs for semiconductors and software out to major device manufacturers such as Apple and Samsung.
Hauser’s latest intervention follows calls from Ed Miliband, the opposition Labour party’s shadow business secretary, for the UK government to intervene to make sure Arm’s headquarters remain in the UK for at least another five years.
“If the government truly believes in an active industrial policy, it cannot be right that they are ignoring the potential consequences of this takeover, including the possible implications for where the company is headquartered and the thousands of jobs in Britain that depend on it,” Miliband said. 
Nvidia chief executive Jensen Huang and Arm CEO Simon Segars told reporters last week that the company would remain headquartered in Cambridge. Huang added that he was open to discussions with the UK government about guaranteeing jobs.
An Arm representative declined to comment further when approached by Business Insider. 
Business Insider approached the UK government for comment.