On Monday, July 18, Softbank, a Japanese company ranked as one of the world’s biggest technology companies, bought the British processor design company, ARM Holdings. Softbank confirmed its purchase of ARM Holdings for £24.3 billion, about $31.4 billion. This works out to roughly $67.27 per share or about 43% higher than ARM’s market price.

Softbank plans to preserve the company’s organizational structure, managers, and even business model. The CEO of Softbank, Masayoshi Son, announced his plan to increase the number of employees. ARM’s headquarter will remain Cambridge, England.

This is an excellent opportunity for Softbank to earn a solid place in the growing IoT market because ARM Holdings dominates the market as the major designer and licenser of mobile processors worldwide with its processors being used on over 90 % of all smartphones.