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Japan’s Softbank buys semiconductor ARM for $32 billion

Japanese company Softbank is looking to buy British chip giant ARM for a price worth $32.2 billion.

If the deal is approved, it would be the first major tech transaction in Britain since it opted to exit the European Union last month. ARM had been seen as a safe option amid the sudden change surrounding “Brexit” as the chip technology is used in mobile phones all over the globe, while only getting limited revenue from Britain.

The UK-based ARM provides chips for many of the world’s largest tech companies, including Samsung and Apple, and it has licences with more 300 tech firms. To date, it has shipped over 60 billion chips.

The ARM board has yet to accept the deal although they are highly advised to agree to the offer.

Softbank CEO Masayoshi Son said that ARM will be a great fit within their group as they invest to capture the very significant opportunities provided by the “Internet of Things.”

The Japanese company’s interest in ARM is its first major move since Nikesh Arora opted to part ways with the company. He was originally picked as a successor by Son.

Previously, the Japanese company appeared to be gearing up for a big deal as they sold their stakes in Supercell, the maker of “Clash of Clans,” and Alibaba, a Chinese tech company.

Aside from Softbank, Intel has also been rumored as a potential buyer of ARM while it remains to be seen if tech giants Samsung and Apple would consider making offers to buy the chip company.

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