British technology company ARM Holdings is being bought by Softbank of Japan for $32bn.
ARM designs chips used in many smartphones, and employs around 4000 people in the UK.
Softbank is reported to see ARM as well positioned to benefit from the growth of the so-called 'Internet of Things' - which will see chips helping to control devices from washing machines to smart buildings.
UK correspondent Olly Barratt says it's significant that the deal comes so soon after Britain's vote to leave the European Union.
IN: "It's an…
OUT: …sold off."
DUR: 34 seconds
http://www.fsnradionews.com/feeds/0718arm-ob1.mp3
ARM designs chips used in many smartphones, and employs around 4000 people in the UK.
Softbank is reported to see ARM as well positioned to benefit from the growth of the so-called 'Internet of Things' - which will see chips helping to control devices from washing machines to smart buildings.
UK correspondent Olly Barratt says it's significant that the deal comes so soon after Britain's vote to leave the European Union.
IN: "It's an…
OUT: …sold off."
DUR: 34 seconds
http://www.fsnradionews.com/feeds/0718arm-ob1.mp3