Japan to Buy British Chipmaker for $32b
Economy, Sci & Tech

Japan to Buy British Chipmaker for $32b

Britain's ARM electronic chip manufacturer said it did not consult its partners such as Apple, Samsung and Qualcomm that use its technology in billions of chips before agreeing to a $32 billion takeover from Japan's Softbank.
Chief Executive Simon Segars said, as is customary in takeovers, only a small number of people were involved in the talks, Reuters reported.
"This is about a decision that a board ultimately needs to take and the board is there to make sure that the interests of all stakeholders are maintained," he told Reuters on Monday.
"So no, we weren't out consulting with our customers. We believe this is going to be a great thing for ARM, our partners, our employees, our shareholders and that's the judgment we've taken."
Segars also said Softbank's pledge to double ARM's workforce in Britain, adding anther 1,600 staff, would be legally binding in the final paperwork.
Britain's Prime Minister Theresa May said on Monday that Softbank's decision to buy the chip designer showed Britain's economy could be successful after the country voted to leave the European Union. Welcoming the deal as a boost for British jobs and the economy, a spokeswoman for the premier said May believed the deal was in the country's national interest—a gauge she will use in all future foreign takeovers.
"This is good news for British workers; it's good news for the British economy. It shows that, as the prime minister has been saying, we can make a success of leaving the European Union," the spokeswoman said.


Short URL : http://goo.gl/EwHXOJ
  1. http://goo.gl/36vbiI
  • http://goo.gl/VjSGbk
  • http://goo.gl/wrg9jo
  • http://goo.gl/h81hUf
  • http://goo.gl/RHZC1d

You can also read ...

Stadler Rail’s business with Iran is worth billions of Swiss francs.
In early March, the Swiss Embassy in Tehran gladly announced a...
Iran to Increase Exports to US Despite Sanctions
A senior Iranian trade official has announced that the country...
Grab Clinches Deal With HSBC
Ride-hailing startup Grab has secured a $370 million five-year...
Audi CEO Arrested Over Diesel Scandal
Audi CEO Rupert Stadler was arrested in Munich on Monday in...
Trends in Housing Sales, Rents
The Statistical Center of Iran has presented crucial data...
Iran Proposes to Set Up IMO Offices in West Asia
The Ports and Maritime Organization of Iran has announced its...
Gov’t Limits  Forex Supply  to Importers
The government has curbed the allocation of foreign currency...
Over 2.55 billion shares worth $169.2 million were traded at TSE on June 18.
Tehran stocks showed no signs of backing down on their rally,...