ARM Holdings reports increased revenue and profits

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.

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