The British chip company ARM is firing several dozen workers in Israel. The company refused to say how many workers would be fired, but it appears that this is a few dozen of the 200 employees employed by the development center in Israel.
ARM said in response, "Like any business, ARM is constantly re-evaluating its resources and technology to ensure that we are ready to support our growth strategy." ARM recently re-evaluated our investment in the IoT Services Group to increase effectiveness And our ability to respond to customers and this may affect a small number of positions in Israel and other sites of the company. "
ARM chip company acquired by Softbank in 2016 in the amount of $ 31 billion, and its activity in Israel transferred 2018 to new offices in Ra'anana. ARM's development center in Israel consists of software and hardware professionals, and develops firmware software, RT Embedded, Linux and IP development of hardware. In addition, the center supports the development of the technology acquired by the Sansa Security company, acquired by ARM for $ 90 million in 2015.
The deal closed at a record speed, given its size and sensitivity, and won only a few days ago the regulatory approval. Overall, Softbank pays about £ 24 billion for ARM (or $ 31 billion) and manages it as an independent and separate profit division. However, the companies intend to merge their financial system and report consolidated financial results as of today.
The acquisition will also complement Softbank's transformation from a communications and distribution company to one of the world's leading technology and holding companies. Softbank is already a highly regarded robotics manufacturer, the largest shareholder in Alabama and the owner of the US cellular provider Sprint. Softbank intends, among other things, to link its robotics divisions and ARM's to enter the world of Internet. "I'm not investing in a dying property," said Softbank CEO Massioshi Son.