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ARM Holdings reports increased revenue and profits

Published 27/07/2016

Cambridge-based ARM Holdings supplies technology for Apple's iPhone (PA/Handout)
Cambridge-based ARM Holdings supplies technology for Apple's iPhone (PA/Handout)

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.

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