But while Acorn has long been largely forgotten by all except hardcore computer geeks, Arm lives on... and thrives as a world leader in one of the modern world’s most important industries.
Its semiconductor chips are said to be in around 95% of all smartphones worldwide. Its technology is also found is a huge proportion of other everyday electronic devices from digital TVs to drones. It is a true national champion.
The company has not been British owned since it was bought by Japan’s SoftBank in 2016, but it remains very much Cambridge-based.
But next month it will become a US listed stock when its shares begin trading on the Nasdaq exchange in what will be the biggest US IPO for two years.
There will not even be a secondary listing in London. Last night’s regulatory filings paving the way for the IPO come as no surprise.
Nevertheless this is a sobering and symbolic moment. Whatever efforts Rishi Sunak made to persuade SoftBank to maintain some sort of trading presence in the City ended in failure. London has to find a way to re-energise its moribund financial markets... and fast.
Like Arm, the City was once a world leader in its own field that Britain could be proud of. That is in danger of being lost.