LONDON--ARM Holdings PLC (ARM.LN) has acquired U.K. imaging products firm Apical Ltd. for $350 million, to help the chip designer's product portfolio in existing markets such as smartphones and cameras.

ARM said Wednesday that the acquisition, which closed on May 17, supports its long-term growth strategy by enabling new imaging products in sectors such as next-generation vehicles, security systems, robotics and smart building.

Apical is an imaging technology IP business founded in 2002 that employs 100 people.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

May 18, 2016 02:31 ET (06:31 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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