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Softbank to buy iPhone chipmaker ARM for $32 billion

The Japanese telecoms giant has agreed to buy the British chipmaker for £24 billion, reports the BBC. ARM Holdings is perhaps Britain’s most successful tech company. It makes the ARM chips found in 80% of the world’s smartphones, including the iPhone. The board of ARM Holdings is expected to recommend to shareholders that they accept Softbank’s offer, which is almost an £8 billion premium on the £16.8 billion the company was valued at on Friday.

[Image: ARM]MG