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Softbank to acquire ARM for GBP 24.3 billion
2016-07-18 08:32:00| Telecompaper Headlines
(Telecompaper) Softbank has agreed to buy mobile chip designer ARM Holdings for GBP 24.3 billion. The offer of 1,700 pence per share is a premium of 63 percent on ARM's average share price in the past three months. The takeover is expected to significantly strengthen Softbank's position in the Internet of Things. SoftBank said it intends to maintain ARM's organisation based on the UK, including existing senior management, the brand and the partnership-based business model. The Japanese company also pledged to at least double the employee headcount in the UK over the next five years and also increase staff numbers at ARM outside the UK.
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Category:Telecommunications