Japan's Softbank buys semiconductor giant ARM for $32 Billion in Cash
Jul 18, 2016
Japanese telecommunication giant SoftBank has confirmed that the company intends to acquire UK chip designer ARM Holdings for almost $32 Billion (£24.3 Billion) in an all-cash deal. ARM has also agreed to this offer from SoftBank and said that its board would recommend the all-cash deal to shareholders. SoftBank will pay nearly $22.5 per ARM share, which is 43 percent more than ARM's closing share price on Friday and 41 percent more than ARM's all-time high closing share price. The deal is the largest-ever acquisition of a European technology business, first reported by The Financial Times. Wondering Why is ARM really Worth $32 Billion? Founded in 1990, Cambridge-based ARM Holdings designs microchips for a variety of smartphones and powers more than 95 percent of the smartphones in the market. Whether it is Apple's iPhones or iPads, Samsung's Galaxy smartphones, Amazon's Kindle e-readers, the cheapest Nokia phones or Internet-connected devices li...
