SoftBank Group has agreed to purchase UK processor firm ARM in a bid to grow its presence in the mobile and ‘Internet of Things' spaces.
The 24.3bn deal will see the Japanese firm take over the Cambridge-based ARM, which provides mobile processor and graphics technology to major manufacturers such as Apple and Samsung. ARM also owns Geomerics, the firm behind widely-used lighting middleware Enlighten.
SoftBank has added that it will retain top managers at ARM's headquarters and aims to double the firm's UK workforce.
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