SoftBank brings Finsbury on board ahead of £24.3bn ARM acquisition

Japanese technology giant SoftBank has hired Finsbury to provide comms support for its £24.3bn ($32.2bn) acquisition of UK tech company ARM Holdings.

SoftBank: Has hired Finsbury to support its proposed £24.3bn acquisition of ARM Holdings
SoftBank: Has hired Finsbury to support its proposed £24.3bn acquisition of ARM Holdings

SoftBank hopes the acquisition of the smartphone chip designer will help move it to the forefront of the 'internet of things' market. The proposed move, announced today, is subject to shareholder approval.

The Japanese company, which acquired American tech firm Sprint in 2013, also works with Sard Verbinnen as its retained agency in the US. Brunswick, which maintained its top spot in the M&A comms adviser league earlier this year, is ARM’s retained agency.

The takeover will be the largest ever acquisition of a European tech business. Philip Hammond, the new Chancellor, was quick to position the announcement as a positive story among the doom and gloom of Brexit coverage. He said the investment would "double the number of jobs in ARM in the UK and turn this great British company into a global phenomenon".

Hammond stressed that business, including M&As, was unlikely to be stunted as a result of the decision to leave the EU. "Just three weeks after the referendum decision, it shows that Britain has lost none of its allure to international investors," he said. "Britain is open for business - and open to foreign investment. SoftBank's decision confirms that Britain remains one of the most attractive destinations globally for investors to create jobs and wealth."

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