Softbank to buy arm holdings of UK for $31 bn

TOKYO: Japanese technology major SoftBank Group is buying British semiconductor company ARM Holdings for $31 billion. The agreement, disclosed on Monday, underlines

TOKYO: Japanese technology major SoftBank Group is buying British semiconductor company ARM Holdings for $31 billion. The agreement, disclosed on Monday, underlines SoftBank’s desire to expand in the Internet of Things. SoftBank’s board has approved the deal, but ARM shareholders and English courts still need to approve it. Prime Minister Theresa May welcomed the deal. “This is good news for British workers, for the British economy, it shows we can make a success of leaving the EU,” her spokeswoman quoted her as saying.

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