ARM Holdings reports increased revenue and profits
ARM Holdings, the British technology firm poised to be bought by Japan's SoftBank, has reported rising revenue and profits for the second quarter.
The chip maker said sales jumped 17% to £267.6 million while pre-tax profits rose 5% to £130.1 million in the period.
Last week, SoftBank announced it was acquiring the Cambridge-based company, which supplies technology for Apple's iPhone, in a £24 billion deal.
SoftBank pledged a major recruitment drive, to double ARM's 3,000-strong workforce, and to hold on to its existing management team following its swoop.
ARM chief executive Simon Segars said: "Our royalty revenue growth continues to outperform the wider semiconductor industry, driven by market share gains and the increasing adoption of ARM's latest technologies.
"With more end-users selecting ARM technology for products ranging from sensors to satellites to supercomputers, we expect this outperformance will continue."
The firm also announced another Asian tie-up, this time with Chinese private equity firm HOPU Investment Management. The pair will launch an industry fund focused on the Internet of Things, smart devices, big data and cloud computing.