Arm Agrees To Be Bought by Japan's Softbank

By Peter Clarke, EETimes, LONDON, Jul. 18, 2016 – By Peter Clarke, EETimes -

Arm Holdings plc has agreed to be bought by Softbank of Japan for £24.3 billion (about $32.25 billion) in an all-cash deal.

The board of directors of processor intellectual property licensor Arm has recommended acceptance of a Softbank offer of £17 per share, which represents a 43 percent premium over the share price at the close of trading on Friday July 15.

As part of the deal Softbank has pledged not to change Arm's successful partnership business model, culture and brand. It has also said it will keep Arm's headquarters in Cambridge, England, and to increase employment in the UK from approximately 1,700 to approximately 3,000 over the next five years.

SoftBank plans to finance the deal through a combination of debt and cash on hand.

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