Image: ARM Holdings Image: ARM Holdings

The staff at ARM Holdings could be set for a share of a £400 million payout if its takeover by Japanese firm SoftBank is completed.

On Monday, the two revealed a £24 billion offer had been accepted with the ARM board set to recommend shareholders agree to the takeover.

ARM still has 22.4 million granted outstanding share awards through its employee incentive scheme. With SoftBank's offering £17 per share, ARM is likely to fetch around £380m for the incentive scheme. However, reports have suggested employees won't be able to get their hands in it straight away in a bid to keep them at the company.

ARM's chief executive Simon Segars is in line to take £11m from that pool, while chief technology officer Mike Muller is likely to take home £21m.

Hermann Hauser, ARM's founder, said after the deal was announced that it was a "sad day" for the British technology industry. He raised concerns that SoftBank's huge debts - which are in the region of £86bn - could see ARM's profit used to reduce its debt, rather than reinvested

“If [ARM were] allowed to remain independent, all that cash could be ploughed into further development, now some of it will have to be spent on servicing debt," Mr Hauser said.