ARM for SoftBank

The UK-based chip designer ARM has been acquired by Japan's SoftBank. Thr acquisition costs SoftBank $32.5 billion in a cash deal. The purchase marks the largest tech acquisition in the UK as well as in Europe. As a result of the acquisition, ARM will be delisted from the London Stock Exchange effective on September 6. SoftBank said that it will run ARM as a standalone business, and it has plans to double jobs to grow its workforce outside the country in the next few years. ARM is a company that designs processor for electronics, popular for being used by the likes of Samsung and Apple. In the 2015 alone, the company and its manufacturing partners have shipped about 15 billion chips (more than 50 percent smartphones available on the market).