SoftBank Group Corporation is nearing a deal to acquire ARM Holdings, the British semiconductor company, two people briefed on the matter said.
While the negotiations are not yet final, said the people, who asked not to be named because they were discussing private information, the deal could be the first large-scale transaction since Britain voted to leave the European Union.
ARM, which designs chips and parts of chips, has a market capitalization of about $22 billion. The price that SoftBank was willing to pay could not immediately be learned. SoftBank, based in Tokyo, invests in technology media and telecommunications companies.