SoftBank is set to buy ARM for $30.9 billion, report says

There is a report goes on Mashable that, Japanese telecoms corporation SoftBank is ready to purchase British chip giant ARM for a cool 23.4 billion pounds ($30.9 billion).The Financial Times report the news in the early on hours of Monday, citing two people open to the discussions.

SoftBank Group Corp. (ソフトバンクグループ株式会社 Sofutobanku Gurūpu Kabushiki-gaisha?)is a Japanese international telecommunications and Internet corporation, with operations in broadband, fixed-line telecommunications, e-commerce, Internet, technology services, finance, media and marketing, and further businesses.

If it goes during, the deal will be the biggest ever acquisition of a European tech companionship, noted the FT.

The deal will value ARM, which boasts 4,000 employees, at a 43 percent premium over its finishing price last week. ARM's market cap stood at 16.7 billion pounds ($22 billion) on Friday. 

ARM's processors have been well-known for their low power utilization, allowing them to become a strength in the mobile industry. ARM's chip designs go into products such as Apple's iPhones and Apple Watches.

Unlike other competitor such as Intel, which manufacture its chips, ARM licenses its technology to new companies. SoftBank, one of Japan's principal companies, is value about 7.2 trillion yen ($68 billion) and employ over 69,000 people.

It counts along with its vast properties American telecoms company Sprint, and Yahoo Japan, which it set up jointly with Yahoo in 1996.

Softbank has been insistently investing in mobile software companies in current years, from Clash of Clans developer Supercell to Uber rivals Didi Chuxing in China and Ola in India.

presently last month, SoftBank's president Nikesh Arora stepped down, as 58-year-old founder Masayoshi Son announced that he would stay on as CEO for at most another 5 years. The role was predictable to be passed to Arora, who left one as one of the highest paid executives in the planet.