According to Simon Segars, pictured, ARM’s CEO: “Softbank approached us with an interesting proposition and it was something we had to look at. We had two criteria: a price that would be attractive to shareholders and a future more exciting than we could achieve on our own. Softbank achieved these objectives.”
In Segar’s opinion, technology will require long term investment and is ‘not iterative’. “It will require bringing partners together and is non trivial. Together,” he said, “we will deliver more.”
Masayoshi Son, chairman and CEO of SoftBank, said: “ARM will be an excellent strategic fit within the SoftBank group as we invest to capture the very significant opportunities provided by the IoT.
“This investment also marks our strong commitment to the UK and the competitive advantage provided by the deep pool of science and technology talent in Cambridge.
“SoftBank intends to invest in ARM, support its management team, accelerate its strategy and allow it to fully realise its potential beyond what is possible as a publicly listed company.”
Softbank, established as a software distributor in 1981, has grown to encompass such industries as broadband, fixed line telecommunications, e-commerce, internet and technology services. According to its latest financial statement, its revenues in 2015-16 were $86billion.