ARM legs it to SoftBank in $32 billion buyout

UK chip designer ARM has agreed to a whopping buyout offer from Japanese telecoms giant SoftBank for £24.3 billion (~$32 billion)—the deal comes just weeks after Brits voted to exit the European Union.

SoftBank said it would retain ARM's senior management team, brand, and lucrative partnership-based business model.

ARM will remain headquartered in Cambridge, and SoftBank has vowed to double the staff headcount in the UK over the next five years. The smartphone chip designer currently has 4,064 employees on its books worldwide.

Read 5 remaining paragraphs | Comments