(MENAFN) Japanese SoftBank unveiled a bold USD32 billion agreement to take control of ARM Holdings, the major British semiconductor designer, based on the latest reports.
In accordance, the contract would give the Japanese company control of a firm whose chip designs can be found in most of the world's mobile gadgets, from iPhones to drones.
The pact is the first major cross-border transaction in Britain since it voted to exit the EU, hence the weakened value of the nation's currency made it cheaper for foreign firms to hunt for deals there.
In more detail, the two sides eventually agreed to a price which is more than 70 times ARM's gross earnings over the previous year, plus the deal is anticipated to close in November.
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