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The founder of ARM Holdings has told the BBC he believes its imminent sale to Japanese technology giant Softbank is “a sad day for technology in Britain”.

Hermann Hauser said he was “very sad” at news of the £24bn ($32bn) takeover which was announced on Monday morning.

The Cambridge-based firm designs microchips used in most smartphones, including Apple’s and Samsung’s. ARM, which was founded in 1990, employs more than 3,000 people. Mr Hauser called ARM Holdings his proudest achievement.

The man who helped spin ARM Holdings out from Acorn Computers in 1990 also said the technology firm had sold 15 billion microchips in 2015, which was more than US rival Intel had sold in its history.

Mr Hauser said ARM gave the UK “real strength”. He said it was a “British company that determined the next generation microprocessor architecture, that is going to be used in all the next generation phones and – more importantly – in the next generation of the internet of things”.

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