Chip maker Arm files for US IPO
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Japanese SoftBank Group-owned chip maker Arm is listing for a U.S. IPO on the Nasdaq stock exchange. informs Reuters, citing a company statement.
Arm plans to sell shares on Nasdaq later this year and raise $8-10 billion, sources familiar with the matter told the agency. Last year, due to objections from US and European antitrust authorities, SoftBank failed to close a deal to sell the chipmaker to Nvidia for $40 billion, Reuters recalls. Since then, Arm’s business has “thrived” with sales up 28% in the last quarter of last year. SoftBank and Arm declined to comment.
According to Reuters, earlier this year, Arm rejected a UK public offering of its shares in London and said it would conduct an IPO on a US stock exchange.
Arm Holdings is one of the largest developers and licensors of processor architecture for portable and mobile devices. The Arm microprocessor architecture is widely used in smartphones, including by companies Samsung and Apple.
SoftBank Group is one of the largest and most influential global investors in technology companies. The Japanese company is notably the largest shareholder in Alibaba (27.5%) and T-mobile (24%), and has stakes in dozens of other tech companies, including Uber and Slack. When buying Arm four years ago, SoftBank founder Masayoshi Son called the acquisition “a great move” and “one of the most important acquisitions” in SoftBank’s history.
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