SoftBank is taking over British chip designer ARM Holdings for $31 billion. It would be one of the largest acquisition of a European tech firm ever. SoftBank will pay £17 for each share in the ARM.
The UK company designs the processors for mobile devices, including chips for Apple, Samsung, and HTC. 15 billion ARM-designed chips shipped last year, with around half of those installed into mobile devices.
Softbank has recently sold Supercell makers of Clash of Clans to Tencent for a $8.6 billion. SoftBank also owns US carrier Sprint, 28 percent of Alibaba and the Japanese divisions of Yahoo and Vodafone.