ARM Holdings Gains 2% After Company Acquisition Of Apical

Shares of
ARM Holdings plc (ADR)
(NASDAQ:
ARMH
) were trading higher by more than 2.8 percent Wednesday morning after the company
announced
it has agreed to acquire Apical Limited, a global leader in imaging and embedded computer vision intellectual property products.

As part of the agreement, ARM will pay $350 million in cash. The company expects the acquisition to accelerate its ecosystem's growth into new markets such as connected vehicles, robotics, smart cities, security systems, industrial/retail applications and Internet of Things (IoT) devices.

ARM added that Apical technology extends its product portfolio in existing markets such as smartphones and cameras.

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