Chip designer Arm unveiled plans to offload its IoT operations to parent company SoftBank Group, in a strategy overhaul to prioritise efforts on its core semiconductor IP business.
In a statement, Arm said its move would see its IoT Platform and Treasure Data businesses being transferred to newly created entities, owned and controlled by SoftBank Group and its affiliates.
Arm CEO Simon Segars noted there were “great opportunities in the symbiotic growth of data and compute” and the company would be “in a stronger position to innovate in our core IP roadmap”.
He added SoftBank Group’s experience would enable the IoT operations to maximise their value “in capturing the data opportunity”.
The organisational change is expected to be finalised by the end of September, subject to review from the company’s board and customary closing conditions.Subscribe to our daily newsletter Back