ARM Holdings is to be aquired by SoftBank for $32 billion USD. This report has been confirmed by the Wall Street Journal, who states that an official annoucement of the deal is likely on Monday as "both companies’ boards have agreed to the deal".
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"Japan’s SoftBank Group Corp. has reached a more than $32 billion deal to buy U.K.-based chip-designer ARM HoldingsPLC, marking a significant push for the Japanese telecommunications giant into the mobile internet, according to a person familiar with the situation." – WSJ
ARM just announced their newest CPU core, the Cortex-A73, at the end of May, with performance and efficiency improvements over the current Cortex-A72 promised with the new architecture.
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We will have to wait and see if this aquisition will have any bearing on future product development, though it seems the acquisition targets the significant intellectual property value of ARM, whose designs can be found in most smartphones.