HSBC is to take over the UK arm of the collapsed Silicon Valley Bank.
UK Chancellor Jeremy Hunt said the sale was “facilitated” by the government and the Bank of England, and will protect Britain’s tech sector.
The announcement of the bank’s collapse has hit a number of prominent tech and entertainment firms that used its services.
Among the greatest hit is Roku, which admitted on Friday that 26% of its cash reserves were held by SVB’s failed US office.
In a regulatory filing, the set-top box and streaming services provider said of its $1.9 billion cash, $487 million was with the SVB.
Depositors are expected to have full access to their funds by the end of the day, Roku said.
Another firm caught up in the collapse is the video production and streaming platform
Other companies impacted include the video production platform Vimeo, which said it had accounts at SVB. However, it said it expects deposits to be fully covered by the Federal Deposit Insurance Corp.
SVB was the 16th largest bank in the United States until its collapse on Friday.
