SoftBank to buy UK chip designer ARM for around $32 billion
Posted on: 18 Jul 2016 18:30:01
18 July 2016 Current Affairs: UK based chip designer firm, ARM Holdings PLC has confirmed that it agreed to buyout offer for around $32 billion by Japan's SoftBank Group Corp, marking a significant push for the Japanese telecommunications giant into the mobile internet.
If confirmed, the deal would be one of the largest in European technology to date and SoftBank's largest ever.
Regarding this deal, a report stated that SoftBank will pay 17 pounds in cash for each ARM share.
ARM is the most valuable tech company listed in London and has a major presence in mobile processing, with its processor and graphics technology used by Samsung, Huawei and Apple in their in-house designed microchips.
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