(Bloomberg) — Nvidia Corp. said it agreed to buy SoftBank Group Corp.’s chip division Arm Ltd. for $40 billion, taking control of some of the most widely used technology in electronics in the semiconductor industry’s largest-ever deal.Nvidia will pay $21.5 billion in stock and $12 billion in cash for the U.K. based-chip designer, including a $2 billion payment at signing. Softbank may receive an additional $5 billion cash or stock if Arm’s performance meets certain targets, the companies said Sunday in a statement. An additional $1.5 billion will be paid to Arm employees in Nvidia stock.The initial payment to SoftBank …read more
Source:: Yahoo Finance
