Chip designer ARM to be bought by SoftBank for £24bn
The UK’s only world-leading high-tech electronics company, ARM Holdings, has announced that it will be bought out by Japanese telecommunications company Softbank for £24bn.
The buyout offer is around a 43% premium compared to their current market cap, so ARM’s board is recommending shareholders to accept the deal, which will be the largest ever acquisition of a European tech company. The chips that the company produces are known for their use in the Internet of Things, which according to The Manufacturer, is something SoftBank are said to have considered when making their decision.
What do you think? Is the acquisition a good or bad thing for the UK?
To find out more, head here: http://ow.ly/SSSZ302BKMD
Innovate UK launches £5m fund for robotics and autonomous systems
Innovate UK has partnered with the Engineering and Physical Sciences Research Council to fund a competition which seeks to push technologies forward towards demonstration and commercialisation.
Businesses can apply for a share of the £5m by submitting a proposal for both physical and digital systems that outline solutions to existing or emerging problems. The projects submitted are expected to last between 6 and 15 months and cost between £50,000 and £500,000. The competition is now open and the deadline is 26 October 2016.
For more information on the competition, head here: http://ow.ly/uJX0302BKOx
CBI outlines key principles for UK’s EU negotiations
The UK’s leading business group has set out five principles that it believes are key to economic success in future negotiations in the EU.
The CBI believes that building partnerships with business from all sectors and all sizes will allow the UK to seize the best global opportunities, while also safeguarding the close relationships with EU members. Some of the five principles include retaining the single market, developing a strategy for international trade agreements and protecting the benefits of EU funded projects.
To find out how the CBI’s plans could be implemented, head here: http://ow.ly/hUjl302BKQj