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Business |

SoftBank + ARM = one massive deal

Japanese Softbank has made an offer on UK's ARM. The telecommunications company is offering GBP 17 per share representing a 43% premium on Friday’s closing share price.

The consideration values the entire existing issued and to be issued share capital of ARM at approximately GBP 24.3 billion. With its new muscles that is ARM (no pun intended), SoftBank intends to preserve organisation, including the existing senior management team, brand, partnership-based business model and culture to ensure continuity of a strong track record. In a joint press release SoftBank states that it intends to maintain the headquarters of ARM in Cambridge and also (at least double) the employee headcount in the UK over the next five years, which would be over 1,500 additional ARM jobs in the UK. The Japanese company also plan on increasing the headcount of ARM outside the UK over the next five years. Masayoshi Son, Chairman and CEO of SoftBank said: “We have long admired ARM as a world renowned and highly respected technology company that is by some distance the market-leader in its field. ARM will be an excellent strategic fit within the SoftBank group as we invest to capture the very significant opportunities provided by the “Internet of Things”. “This investment also marks our strong commitment to the UK and the competitive advantage provided by the deep pool of science and technology talent in Cambridge. As an integral part of the transaction, we intend to at least double the number of employees employed by ARM in the UK over the next five years.”

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March 15 2024 2:25 pm V22.4.5-2
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