MOSCOW (Sputnik) — According to UK Chancellor of the Exchequer Philip Hammond, the investment of Softbank would be the largest investment from Asia into the United Kingdom ever.
"Under the terms of the Acquisition, each ARM shareholder will be entitled to receive 1,700 pence in cash for each ARM share. The consideration values the entire existing issued and to be issued share capital of ARM at approximately GBP 24.3 billion," Softbank's statement said.
The statement added quoting Softbank's CEO Masayoshi Son that the bank had admired ARM as a "world renowned and highly respected" company that would be an "excellent strategic fit" within the bank group, as it targets to "capture" the opportunities provided by the technologies of the so-called Internet of Things.
ARM Holdings is a Cambridge-based company that specializes on software, as well as on design of chips and processors that are used in both mobile phones and tablet computers.
