ARM Holdings, a.k.a. the company responsible for the mobile processor architecture which powers the iPhone and iPad, looks set to be bought by Japan’s SoftBank for an eye-watering (iWatering?) $32 billion, it has confirmed.
ARM’s board will recommend that shareholders accept the deal, which represents 43 percent over the company’s closing market value as per Friday. The news caused shares in ARM to leap up by 45 percent to 1,742.85p per share when the London Stock Exchange opened this morning.