ARMH Arm Holdings Plc ADS Each Representing 3 Ordinary Shares (MM)

HONG KONG—Japan's SoftBank Group Corp. has reached a deal to buy U.K.-based chip-designer ARM Holdings PLC in an all-cash deal worth more than $32 billion, according to a person familiar with the situation.

The deal, which is expected to be announced Monday, will mark a deeper push for SoftBank into the mobile internet where ARM has a strong market share in providing chips connecting mobile devices, according to the person.

Both companies' boards have agreed to the deal, the person said.

Write to Rick Carew at rick.carew@wsj.com

(END) Dow Jones Newswires

July 17, 2016 22:45 ET (02:45 GMT)

Arm Holdings Plc ADS Each Representing 3 Ordinary Shares (MM) (NASDAQ:ARMH)
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