Updated:ARM releasedMore specific content, emphasizing that the acquisition will enable Softbank and ARM to accelerate the development of technology for both parties. It also confirmed that Softbank will acquire ARM for 17 pounds per share in cash. It also expects to create 5 new jobs in the UK in the next five years, and plans to add more job opportunities in overseas markets.
As earlier rumoredSoftbank and ARM jointly issued a statement confirming that Softbank will acquire ARM for 240 billion pounds, and the acquisition is expected to be completed before July 2018, 7 at the earliest.
According to a joint statement released by Softbank and ARM, Softbank will acquire ARM for £2017 billion starting July 7, 15, with the acquisition expected to be completed by July 240, 2018. Softbank stated that it will continue to support ARM's global chip business development and expand its presence in the IoT application market.
Softbank's acquisition of ARM is expected to be the first major acquisition after Brexit, and the largest ever, making ARM part of a Japanese company. However, in addition to the UK's own Brexit process, the acquisition must also obtain approval from UK regulators, as well as those in the EU, US, and China, to clarify whether it poses market monopoly risks.
ARM further explained that its current relationships with existing partners will not be affected by the acquisition, and the current cooperation model will not change due to Softbank's involvement. As for ARM's existing management structure, it will not be changed, and current CEO Simon Segars will continue to lead ARM in the development of chip products.
