SoftBank is to acquire British semiconductor firm ARM, the country's biggest listed technology company, for a total of £24.3 billion (approximately €29 billion) at £17 per share. The price represents a 43% premium over last week's closing price.
ARM is seen as Britain's most successful tech ventures in history. Based in Cambridge, it designs the microchips that power most every smartphone and tablet on the planet, including Apple's iPhone. In 2015 alone, ARM’s customers shipped more than 15 billion chips.