Softbank reportedly buying ARM for $32 billion

Japanese telecommunications and Internet giant, SoftBank Group is reportedly buying  UK-based chipmaker, ARM Holding, as per The New York Times report. The deal is not officially announced yet.

ARM, which designs chips and parts of chips, has a market capitalization of about $16.73 billion and its microchip designs are in an array of devices including Apple's iPhone.

ARM also designs processors and related technologies to deliver the intelligence in applications ranging from sensors to servers, including smartphones, tablets, enterprise infrastructure and the Internet of Things(IoT) and that's probably the reason for SoftBank considering this buy. SoftBank is buying ARM for about $32 billion, according to FT.

If the deal gets confirmed, it could also be one of the largest investment of SoftBank after the $22 billion acquisition of a controlling stake in US wireless operator, Sprint in 2013. SoftBank have large stakes in Yahoo! Japan and Alibaba Group also.