News

The boards of directors of SoftBank and ARM have announced that they have reached an agreement on the terms of a recommended all-cash acquisition of ARM for GBP24.3 billion (US$32.2 billion).

Japan-based SoftBank's GBP17 per share offer price gives ARM shareholders a 43% premium on Friday's closing share price and a 41.1% premium on the all-time high share price.

SoftBank has also provided assurances it will maintain the headquarters of England-based ARM in Cambridge, while doubling ARM's UK headcount in the next five years and increasing headcount outside the UK. SoftBank will also preserve ARM's existing senior management team, brand and partnership-based business model.

Led by chairman and CEO Masayoshi Son, SoftBank has stated that it is focused on the transition from a Japanese company with some international assets to a global entity that can grow sustainably over the long-term. The company issued a release indicating it targeted ARM because it is one of the world's leading technology companies, with strong capabilities in global semiconductor intellectual property and the Internet of Things (IoT), and has a proven track record of innovation.

SoftBank added that it will support and accelerate ARM's position as the global leader in intellectual property licensing and R&D outsourcing for semiconductor companies by leveraging SoftBank's deep industry expertise and global network of relationships to accelerate adoption of ARM's intellectual property across existing and new markets.

SoftBank's operating businesses currently consist of companies in the advanced telecommunications and consumer Internet sectors, including SoftBank Telecom, Sprint and Yahoo! Japan, as well as growing initiatives in robotics, clean energy and other emerging, technology-based industries.