It is funny how some things turn out. When everyone expects conservatism and slow movement to be the norm, it is refreshing to see such a decisive move. ARM is a true world leader in the tech space that was born here in the UK. It is just the sort of business we aspire to invest in from the early stage.
For its part, SOFTBANK has a long track record of decisive moves (full disclosure: early in my career I worked for SOFTBANK Europe Ventures, the $1bn+ VC business they set up in 2000). Not all of these moves work out but often they do and SOFTBANK are masters of continual re-invention and seizing opportunity.
In the wake of the historic Brexit vote and the fall of the Pound, the UK is now witnessing its biggest-ever technology exit. Today, Arm Holdings confirmed that Japan’s Softbank Group has offered to pay £24.3 billion ($32 billion) in cash to acquire the company — known for its chip designs for mobile handsets (Apple is a customer) as well as for processors to power hardware in Internet of Things networks. It’s the IoT piece that interests Softbank the most, Softbank said.