SoftBank is set to acquire ARM Holdings, the company that designs most of the processors in modern-day smartphones, for $32 billion. Image INQUIRER.net
SoftBank, a Japanese multinational telecommunications and internet company, is set to buy ARM Holdings for $32 billion, tech news site Recode reported.
The arm deal comes less than a month after Brexit, which pushed down the value of the pound, thus making British companies more attractive for overseas buyers. New British Prime Minister Theresa May struck a copious tone with regards to foreign takeovers of leading UK companies.
UK-based ARM Holdings has a strong portfolio of intellectual property for chips in mobile devices. Needless to say, its microchip designs dominate the global market for smartphone processors. With the market for smartphones slowing down, SoftBank expects that ARM’s technology will be crucial to connecting not only smartphones but also appliances and automobiles.
SoftBank invests in online startups in places like China and India. It also own mobile carriers in the US and Japan. Alfred Bayle