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SoftBank to buy chip designer ARM in $32 billion deal


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#1 JohnC_21

JohnC_21

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Posted 18 July 2016 - 07:02 AM

HONG KONG — U.K.-based chip designer ARM Holdings PLC confirmed Monday that it has agreed to a buyout offer worth more than $32 billion from SoftBank Group Corp., marking a significant push for the Japanese telecommunications giant into the mobile internet.

The all-cash deal comes on the heels of SoftBank 9984, +0.23% Chief Executive Masayoshi Son’s decision to take back the reins of the company’s investment strategy from his former deputy and designated successor, Nikesh Arora, who resigned in June.

“ARM will be an excellent strategic fit within the SoftBank group as we invest to capture the very significant opportunities provided by the ‘Internet of Things,’” Son said. “This is one of the most important acquisitions we have ever made, and I expect ARM to be a key pillar of SoftBank’s growth strategy going forward.”

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