Japan’s SoftBank acquires British tech company

Japanese telecoms company SoftBank acquires UK’s ARM Holdings for close to $33 billionSoftBank snaps up UK’s ARM Holdings for $32 billion

Japanese telecoms business SoftBank has made a high-speed deal to buy British smartphone chip company ARM Holdings for $32 billion, as the company targets the ‘internet of things’ technology market. Negotiations were incredibly swift, resulting in a $22-cash-per-share offer – significantly above ARM’s previous closing price – following hard on the heels of a brief round of talks. Larger-than-life CEO of the Japanese group, Masayoshi Son, approached ARM bosses Simon Segars and Stuart Chambers informally for discussions, before concluding the final offer within just two weeks. Read more…

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