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» Internet of Things, ARM company sold to Japanese
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Subject: Internet of Things, ARM company sold to Japanese
Post 503774 posted on 18-7-2016 at 10:02
Internet of Things, ARM company sold to Japanese
UK technology firm ARM Holdings is to be bought by Japan's Softbank for £24bn ($32bn) it confirmed on Monday.
The board of ARM is expected to recommend shareholders accept the offer - which is around a 43% premium on its closing market value of £16.8bn on Friday.
The Cambridge-based firm designs microchips used in most smartphones, including Apple's and Samsung's.
ARM, which was founded in 1990, employs more than 3,000 people.
Shares in the UK technology firm surged by 45% at the open of the London Stock Exchange to 1,742.85p per share, adding £7.56bn to ARM's market value.
ARM said it would keep its headquarters in Cambridge and that it would at least double the number of its staff over the next five years.
The deal will be funded by Softbank's own cash reserves and a long term loan from Japan's Mizuho Bank.
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Post 503779 posted on 18-7-2016 at 14:26
Weak pound will be attractive to foreign investors. Hope the pound recovers soon.
Post 503782 posted on 18-7-2016 at 17:10
Selling England by the pound.
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