Japan buys chip maker British

LONDON - Mobile phone network company is Japan's largest company Softbank agreed to buy chip maker Britain's ARM Holdings for about $ 24 , 3 billion pounds (32 billion dollars). According to the two companies announced on Monday.

Masayoshi Son, president and CEO, Softbank said in a joint statement: 'We have been praised for ARM as a long-known technology companies and respectable as a world-class leading company in market in its sector.

This expansion is a major investment for the UK after the departure of Britain from the European Union.

Mr. Son said the agreement shows the strong commitment of SoftBank for Britain and the benefits of competition that provided by the talent of Science and technology, in Cambridge, which is the headquarters of the company ARM.

Secretary Philip Hammond of Britain's new finance minister, praised the agreement, which occurs when there is a reminder about the decline economic growth in the country after his election last month to leave the European Union.

Mr. Hammond said in a separate statement: investment of 24 billion pounds will be invested the largest ever from the region in the UK.

He added: 'The investment will increase the number of jobs doubled in the British company ARM in the next 5 years.