SoftBank Offering $31 Bn for ARM Chip Company

    • SoftBank Group has agreed to buy UK’s popular chip maker, ARM Holdings, in a 23.4 billion pound ($31 billion) cash deal, the two sides revealed on Monday.

    • ARM is a major presence in the mobile processing industry, with its processor and graphics technology used by major players such Samsung and Apple in their mobile devices.

    • ARM stands to be central to the tech industry’s shift to the ‘internet of things’ as devices, vehicles and building become ever more connected, a stated focus for SoftBank founder Masayoshi Son.

    • Monday’s deal, Softbank’s largest to date, marks a departure for the Japanese group, whose tech and telecom portfolio ranges from US carrier Sprint to a stake in Chinese e-commerce giant Alibaba and humanoid robot ‘Pepper’ – but does not yet include a major presence in the semiconductor industry.

    (With Reuters inputs)