Arm Ltd plans to transfer two software businesses to its Japan-based parent, SoftBank Group Corp, in a strategic shift to focus on growing its core chip businesses, the British-based company said on Tuesday.
The units, under Arm’s internet-of-things services group, help chip purchasers manage data generated by all sorts of devices connected on the internet. Arm, based in Cambridge, England, said in a statement it hopes to complete the transfer by September.
