Acorn never actually went bust
Acorn pretty much went bust in the mid eighties, saved from being wound up only by an Olivetti buyout. Yeah they went on to create more powerful processor cores and licence the IP to all comers.
Although ARM development began in house, ARM LTD was spun off from Acorn in late eighties/early nineties.Also, weren't Element 14 bought out by Pace or someone?
...I was a bit of an Acorn fanboy... ;o)