Japanese mobile company SoftBank has bought Briain’s most valuable technology company ARM Holdings for GBP 24 billion. ARM supplies technology for almost all smartphones such as Apple’s iPhone and Samsung’s Galaxy series. ARM currently employs 3,000 workers in the UK and SoftBank intends to double its UK workforce over the next five years and will keep its headquarters in Cambridge.
The new PM Theresa May has said that the acquisition proves that Britain remains attractive to overseas investors after the Brexit vote. The deal marks the largest Asian investment in Britain and is the 10th largest UK merger up to date.
