Japan's Softbank on 18 July 2016 agreed to acquire ARM Holdings, the U.K. based semiconductor firm, in a deal worth more than 32 billion US dollar.
As part of its bid to bolster its presence in the growing internet of things (IoT) sector, Softbank will pay about 22.50 US dollar per share for ARM.
The deal is the first major cross-border transaction in Britain since it voted to exit the European Union in June 2016.
• SoftBank Group Corporation is a Japanese multinational telecommunications and Internet corporation.
• It was established on 3 September 1981.
• It is headquartered in Tokyo.
• In May 2015, it was ranked in the Forbes Global 2000 list as the 62nd largest public company in the world.
• As of 2015, SoftBank was the 62nd largest company in the world (based on a composite of sales, profit, assets and market value).
About ARM Holdings
• ARM Holdings is a British multinational semiconductor and software design company.
• It is headquartered in Cambridge, England.
• Its primary business is in the design of ARM processors (CPUs). The company also designs software development tools under the DS-5, RealView and Keil brands.
• ARM is considered to be market dominant in the field of processors for mobile phones and tablet computers.
• The company is one of the best-known 'Silicon Fen' companies.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.