SoftBank acquires ARM for £24.3bn

SoftBank Group has arranged 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.

The acquisition is the largest in SoftBank’s history, Reuters reports, with other firms in its portfolio including US carrier Sprint and China-based Alibaba. SoftBank recently sold its stake in Clash of Clans creator Supercell to Tencent.

“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,” said founder Masyoshi Son.

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