In July 18th, 2016 Masayoshi Son, the founder and CEO of SoftBank Group Corp., began his presentation by apologizing for being late for the press conference in London, United Kingdom. Son stated that he was holding a meeting with high government officials. He then expressed his excitement at the moment of announcing that SoftBank Group had acquire 100% of ARM Holdings. SoftBank described this move as the most important investment in the company’s history. Son also said he was looking for the right time to make ARM part of SoftBank and that he has admired this company for the past 10 years. The transaction was valued at US$31.4 Billion making it the most expensive takeover that CEO Son has made. Some concerns about the real reasons for SoftBank to acquire ARM were spoken during the press conference involving an “opportunistic move due to the timing of the acquisition. Just three weeks before, the United Kingdom held a referendum to exit the European Union. After the result was announced, the British pound devalued by more than 10% against the American dollar and more than 14% compared to the Japanese yen. Masayoshi Son made clear that the new exchange rate had not influenced his decision and that the time for the acquisition of ARM was simply due to the availability of the money. CEO Masayoshi Son also spoke about the main reasons why ARM was the perfect fit for SoftBank Group. He made a lot of emphasis in the now-underestimated growth and capabilities of the Internet of Things (IoT) and how ARM along with SoftBank will power the future working together. Son clearly expressed that both companies can work together with very good synergy and that there is not conflict of interests between them. In addition, he mentioned that SoftBank, however, respects the autonomy of ARM and will allow it to work independently, but also aligned with SoftBank’s long-term projects.