ARM's share price closed up 40.9 percent at 16.75 pounds in London, just below the offer price of 17 pounds a share. Augmented-reality headsets, biometric sensors, self-driving cars, commercial drones and smart watches all use ARM technology. SoftBank said its offer represents a 43 percent premium to ARM's closing share price on Friday. The deal, which SoftBank hopes to complete by the end of September, has a few steps pending. ARM centers its business on intellectual property, especially in mobile computing, rather than chip manufacturing, for which it relies on partners.

Source: New Zealand Herald July 18, 2016 07:05 UTC