SoftBank completes acquisition of ARM for £24 billion

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Softbank announced today that it has completed its acquisition of ARM Holdings, the semiconductor firm that it announced that it would acquire for £24 billion, in order to make the jump into IoT. As a result, ARM will be delisted from the LSE effective September 6. Softbank has said that it plans to run the company as a standalone business.

“Pursuant to the terms of the Acquisition, SBG purchased all of ARM’s issued and to be issued shares (excluding any ARM shares already owned by SBG or an SBG subsidiary) for cash, for a total acquisition price amounting to approximately GBP 24.0 billion (approximately USD 31.0 billion or JPY 3.3 trillion).”

The company continued:

“Subsequent to the completion of the Acquisition, ARM will be delisted from the London Stock Exchange as of September 6, 2016 (GMT) and will cease to be a listed company. The financial results of ARM will be consolidated and reflected in SBG’s consolidated financial statements after the acquisition date of  September 5, 2016. SBG will announce the impact of the consolidation once it is verified.”

ARM designs chips for phones and computers and is positioned as a leader in the Internet of Things. The move represents a massive bet for SoftBank on hardware and technology and a change of direction following the departure of high profile executive Nikesh Arora in June.

The move represents a massive bet for SoftBank on hardware and technology and a change of direction following the departure of high profile executive Nikesh Arora in June.

SBG believes ARM is one of the world’s leading technology companies, with strong capabilities in global semiconductor intellectual property and the “Internet of Things”, and a proven track record of innovation.

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