UK chip giant ARM acquired by SoftBank

SoftBank Group has agreed to purchase UK processor firm ARM in a bid to grow its presence in the mobile and ‘Internet of Things’ spaces.

The 24.3bn deal will see the Japanese firm take over the Cambridge-based ARM, which provides mobile processor and graphics technology to major manufacturers such as Apple and Samsung. ARM also owns Geomerics, the firm behind widely-used lighting middleware Enlighten.

SoftBank has added that it will retain top managers at ARM’s headquarters and aims to double the firm’s UK workforce.

Develop has the full story.