Too little, too late? Britain introduces rules to protect tech firms from overseas takeovers

TECH

PUBLISHED FRI, NOV 13 202010:19 AM EST UPDATED FRI, NOV 13 202012:10 PM ESTSam Shead@SAM_L_SHEAD CNBC

KEY POINTS

  • The U.K. government has rolled out new rules to protect Britain’s innovative companies from being snapped up by other nations.
  • But is it too little, too late? Arm was sold to Japan’s SoftBank in 2016 and DeepMind was sold to Google in 2014.
  • Even though DeepMind and Arm are no longer British in some people’s eyes, there are a number of other fast-growing tech companies that very much are.
Britain's Prime Minister Boris Johnson giving a statement in Downing Street in central London on April 27, 2020 after returning to work following more than three weeks off after being hospitalized with the Covid-19 illness.

Britain’s Prime Minister Boris Johnson giving a statement in Downing Street in central London on April 27, 2020 after returning to work following more than three weeks off after being hospitalized with the Covid-19 illness.DANIEL LEAL-OLIVAS

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