Arm to transfer software businesses to SoftBank, focus on core chips biz

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File photo

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.

SoftBank, a telecommunications carrier, acquired Arm for $32 billion in 2016, its largest-ever purchase, in part to expand into the “internet of things,” which connects everyday devices from traffic signals to refrigerators to the internet.

Arm has forecast that 1 trillion devices would become connected by 2035, many with chips containing its intellectual property, from which it generates license and royalty fees.

Arm supplies the chip technology for virtually all mobile devices such as phones and tablets but is expanding into processors for cars, datacenter services and other devices. SoftBank plans to relist Arm by 2023.

“Arm would be in a stronger position to innovate in our core (intellectual property) roadmap and provide our partners with greater support to capture the expanding opportunities for compute solutions across a range of markets,” Arm Chief Executive Simon Segars said in statement.

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.