SoftBank will pay nearly $22.5 per ARM share, which is 43 percent more than ARM’s closing share price on Friday. SoftBank CEO Masayoshi Son described the ARM acquisition as “one of the most important” acquisitions in the history of its Japan-based business. Cambridge-based ARM Holdings designs microchips for a variety of smartphones and powers more than 95 percent of the smartphones in the market. ARM not only dominates the market for smartphones but also used in other consumer gadgets, industrial-like devices and Internet of things.
Source: https://thehackernews.com/2016/07/softbank-arm-acquisition.html