Cambridge’s greatest ever technology business – chip architect ARM Holdings – is reportedly being sold to the Japanese for $31 billion (£23.4bn) – the largest deal in the UK cluster’s history by some distance and the biggest in European technology annals, writes Tony Quested of Business Weekly.
Japanese agree $31bn ARM acquisition
Global media were reporting overnight that the deal would be confirmed today with SoftBank Group the buyer. It is understood SoftBank wants ARM for a push into the Internet of Things arena in which the Cambridge company is a leading player.
Claire Ruskin, Cambridge Network's CEO, comments: "ARM is one of our 'unicorns' that has grown in Cambridge from a start-up and is now a leading player in the world. ARM has been top of its game for some years and will have been attracting interest for a while. We should be very proud of the company, which has been led so well at all levels, and wait to see whether the shareholders think that this offer is good or not. As we have seen with previous take-overs, the people tend to thrive either by continuing to develop in the new world or by setting up new innovative creations boosted by their previous success."
Read the full Business Weekly story
See also from Business Weekly: Japanese pledge to double ARM UK staff after $31bn acquisition
Tony Quested's blog: How many jewels left to sell from Cambridge’s crown?
Coverage and analysis from the BBC: ARM founder says Softbank deal is 'sad day' for UK tech
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