It is stated that Japan’s Softbank has plans on buying ARM Holdings, one of the UK’s biggest technology companies for £24bn ($32bn).

It is stated that Japan’s Softbank has plans on buying ARM Holdings, one of the UK’s biggest technology companies for £24bn ($32bn). Shareholders might accept this generous offer – close to a 50% premium on its closing market value of £16.8bn on Friday.

The Cambridge-based ARM is among UK’s top companies with its microchip designs being used in a set of devices including Apple’s iPhone.

Softbank is said to have plans on doubling the size of ARM’s UK workforce over the next five years. Still, the final decision is up to the company’s shareholders.

ARM Holdings, founded in 1990, has now more than 3000 employees.

As for Softbank, it is one of the world’s biggest technology companies and is managed by Japanese entrepreneur Masayoshi Son.

The company has also acquired Vodafone’s Japanese operations and the US telecoms company Sprint.

Source: BBC