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…

Verizon acquires Yahoo in $5 billion deal

US mobile network Verizon has bought Yahoo in a $5 billion dealUS mobile network Verizon has bought Yahoo in a $5 billion deal

For many millennials, Yahoo was their first introduction to the worldwide web – a portal to an exciting new experience. But more recently, it’s become an anachronism, lagging behind the competition, and is struggling to maintain its place in a fast-moving field. Once valued at $125 billion, it has now been sold for less than $5 billion to US mobile network Verizon. In last quarter alone, the company lost half a billion dollars but Verizon wants it not for its existing business model, but for its billion-a-month visitors. Read more…