ARM Holdings in £24bn Japanese takeover deal

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http://www.bbc.com/news/business-36822272

ARM Holdings, one of the UK’s biggest technology companies, is set to announce it is being bought by Japan’s Softbank for £24bn ($32bn).

The board of ARM is expected to recommend shareholders accept the offer – close to a 50% premium on its closing market value of £16.8bn on Friday.

The Cambridge-based firm is arguably the most precious jewel in the crown of British technology.

Its microchip designs are in an array of devices including Apple’s iPhone.

Sources close to the deal say the Japanese company considered ARM well placed to exploit the “internet of things” – the embedding of microchips in whole new categories of household and business devices.

The proposed takeover of ARM poses a dilemma for the new government. Along with high executive pay, Prime Minister Theresa May has put foreign takeovers on her radar of business dealings that may be bad for the national interest.

However, the government will be keen to show that the recent Brexit vote has not deterred foreign investment.

The BBC understands that Softbank will commit to doubling the size of ARM’s UK workforce over the next five years. Barring government intervention, the final decision will be made by shareholders.

ARM, which was founded in 1990, employs more than 3,000 people.

https://en.wikipedia.org/wiki/ARM_Holdings

https://en.wikipedia.org/wiki/SoftBank

https://en.wikipedia.org/wiki/Masayoshi_Son

Is a Japanese businessman and the founder and current chief executive officer of SoftBank.

According to Forbes magazine, Son’s estimated net worth is US$14.9 billion and he is the second-richest man in Japan, despite having the distinction of losing the most money in history (approximately $70 billion during the dot com crash of 2000). Forbes also describes him as a philanthropist.

Son was named the world’s 45th most powerful person by Forbes Magazine’s List of The World’s Most Powerful People in 2013.

———

big move here..and significant..

“ARM Holdings, one of the UK’s biggest technology companies, is set to announce it is being bought by Japan’s Softbank for £24bn ($32bn).”

surrised japan had money for anything!

“Sources close to the deal say the Japanese company considered ARM well placed to exploit the “internet of things” – the embedding of microchips in whole new categories of household and business devices.”

oh..the IOT..

401

~ by seeker401 on July 20, 2016.

One Response to “ARM Holdings in £24bn Japanese takeover deal”

  1. Reblogged this on World Peace Forum.

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