Japanese telecommunications giant
Softbank Group bought Monday ARM
Holdings, one of the biggest tech
companies in the United Kingdom, in a
deal worth 24.3 billion pounds ($32
billion), Softbank’s press service said in
a statement on Monday.
MOSCOW (Sputnik) — According to UK
Chancellor of the Exchequer Philip
Hammond, the investment of Softbank
would be the largest investment from Asia
into the United Kingdom ever.
“Under the terms of the Acquisition, each
ARM shareholder will be entitled to
receive 1,700 pence in cash for each ARM
share. The consideration values the entire
existing issued and to be issued share
capital of ARM at approximately GBP 24.3
billion,” Softbank’s statement said.
The statement added quoting Softbank’s
CEO Masayoshi Son that the bank had
admired ARM as a “world renowned and
highly respected” company that would be
an “excellent strategic fit” within the bank
group, as it targets to “capture” the
opportunities provided by the
technologies of the so-called Internet of
ARM Holdings is a Cambridge-based
company that specializes on software, as
well as on design of chips and processors
that are used in both mobile phones and
tablet computers.