ARM to refocus on chip IP, let go IoT businesses
The company said this will allow it to focus on its core semiconductor intellectual property business although it expects to continue to collaborate with the separated IoT businesses.
The value of deal, if any, was not disclosed.
“Arm believes there are great opportunities in the symbiotic growth of data and compute,” said Simon Segars, CEO of ARM, in a statement. “SoftBank’s experience in managing fast-growing, early-stage businesses would enable ISG to maximize its value in capturing the data opportunity. Arm would be in a stronger position to innovate in our core IP roadmap and provide our partners with greater support to capture the expanding opportunities for compute solutions across a range of markets.”
The deal is subject to further board review and other closing conditions and is expected to be finalized by the end of September 2020.
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