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.
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.
"ARM has been the proudest achievement in my life and so it's a very sad day for me personally and for technology in Britain."
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.
A technology company based in Cambridge is being bought by a Japanese firm for more than 23 billion pounds.
ARM Holdings, which makes chips for smartphone brands including Apple and Samsung, employs around 1,200 people in the city.
Its new owners, the Japanese internet giant SoftBank has said it will double the number of UK staff.
The Chancellor of the Exchequer, Philip Hammond, welcomed the sale calling it a "vote of confidence" in Britain.
However, the MP of Cambridge Daniel Zeichner isn't convinced.
"Well of course the promises are great, but how are those promises going to be guaranteed? Do we know what will happen in 6 months or a year? Do we know much about SoftBank? And they seem to be making some pretty big deals across the world. This is a Cambridge success story upon which the future of the United Kingdom is probably depends because this is what we're good at."
The £24bn takeover of Cambridge technology company ARM Holdings could see its UK workforce doubled. It employs more than 3,000 people in Cambridgeshire.
The British company is a major presence in mobile procession, with its processor and graphics technology used by Samsung, Huawei and Apple in their in-house designed microchips.
The deal has been welcomed by the new Chancellor of the Exchequer Philip Hammond who said it shows that Britain had lost "lost none of its allure to international investors" following Brexit.
"This £24 billion investment would be the largest ever from Asia into the UK.
"It would guarantee to double the number of jobs in ARM in the UK over the next five years and turn this great British company into a global phenomenon.
"Britain is open for business - and open to foreign investment. Softbank's decision confirms that Britain remains one of the most attractive destinations globally for investors to create jobs and wealth. And as ARM's founders will testify, this is the greatest place in the world to start and grow a technology business."
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Nearly a third of parents say their kids decide where the family holiday will be each year, with half in the East of England saying they're pressured into visiting certain destinations.
The research by travel search engine Kayak found nearly 60 per cent stretch their finances to pay for their annual break.
Parents also take grandparents on family holidays to contribute to the overall costs and to babysit.
New figures show more than 13,000 households in the East of England faced eviction last year.
The charity Shelter says it's because of a lack of affordable housing and welfare cuts.
The towns in this region where people are most likely to lose their homes are Luton, Thurrock in Essex and Peterborough.
A great-grandmother who scooped £1m on the national lottery with a ticket bought at a Norfolk village shop has vowed to treat herself to a new set of teeth.
Diana De Gilio, 70, retired carer who lives in New Zealand. She was in the UK to celebrate her birthday with friends and family when she discovered her life changing win.
She had popped into a village shop in Great Massingham, Norfolk, when she decided to try her luck on the EuroMillions MegaFriday draw.
"While I was in the shop I saw a poster for the EuroMillions Mega Friday Draw and asked the lady what it was about.
"Once she'd explained...I decided to try my luck by buying five Lucky Dips."
As well as treating herself to a new set of gnashers, she also plans to buy a new pair of glasses, help her family buy a house and travel the globe.
A new scheme is launching in Hertfordshire today to stop vulnerable people being targeted by rogue traders.
Local traders applying to the scheme will have to go through a strict vetting procedure, including a criminal record check.
It's been developed by the consumer organisation Which? and Hertfordshire County Council.
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