- It had announced in June that it will transfer its IoT platform and data analytics businesses to SoftBank by September
- The company said that after further diligence, it has determined that both [the IoT platform] and data can realize the same benefits as independent operating businesses
Arm said that it has will keep its IoT Platform and Data units as independent businesses. It has scrapped off the previous plan to transfer its IoT businesses to parent company SoftBank Group
It had announced in June that it will transfer its IoT platform and data analytics businesses to SoftBank by September. At that time, CEO Simon Segars said that this move was meant to enable Arm to focus on its main semiconductor design business
Independent operating businesses
The company said in a statement that after further diligence, it has determined that both [the IoT platform] and data can realize the same benefits as independent operating businesses. It added that each can do so with their own P&L (profit and loss), under the Arm Limited umbrella with less operational disruption.
SoftBank Chairman and CEO Masayoshi Son recently said the company is in talks for a partial or complete sale of Arm. It is considering taking the company public around 2023.
Recently, per a report by UK’s Evening Standard, chipmaker Nvidia is very close to buying Arm. It added that sources have said that a takeover could value the company which supplies technology to Apple at up to £40 billion, is on track to be complete by the end of the summer.
