SoftBank said to hire Goldman for $1b Treasure Data sale

Photo: Bloomberg

SoftBank Group Corp. hired Goldman Sachs to sell data-and-device-management unit Treasure Data and is seeking a price of about $1 billion, according to people familiar with the process.

SoftBank earlier this month said it will separate the business from its chipmaking company Arm Ltd. While part of Arm, Treasure Data grew but required a level of investment that limited Arm’s ability to spend on its own growth initiatives.

A $1 billion sale would be roughly 66% more than Arm paid for Treasure Data in 2018. SoftBank thinks that price is achievable, according to the people, who asked not to be identified speaking on a private deal process. SoftBank’s plans could change and it may still decide to keep the asset.

SoftBank, led by billionaire founder Masayoshi Son, reported a record operating loss in May after writing down investments in companies such as WeWork and Uber Technologies Inc. SoftBank stock plunged in March, but rebounded sharply after share repurchases and wins on other bets. The Japanese conglomerate raised at least $14.8 billion last month selling some of its stake in T-Mobile US Inc., part of a broader $42 billion push to unload assets and pay off debt.

Treasure Data was purchased for about $600 million and integrated into Arm to try to speed up the adoption of “internet of things” technology. More devices are being connected to the internet and data is being collected and analyzed. The idea was that these gadgets would be based on Arm silicon, while Treasure Data sold software to help companies connect and manage new pieces of hardware. The company lists customers such as Subaru Corp. on its website.

Bloomberg

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.

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.