SoftBank to acquire Arm Holdings for £23.4 billion: Report

July 18, 2016 2:30 AM

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In a move for towards the Internet of Things, SoftBank is set to bet big on Arm. The announcement is expected on Monday, and it would mark the largest acquisition of a tech company in Europe.

SoftBank has agreed to acquire UK semiconductor giant Arm Holdings for £23.4 million (roughly $32 billion), in a deal that will be announced Monday, according to the Financial Times.

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