Feb 13, 2022

SoftBank dumps sale of Arm over regulatory hurdles, to IPO instead

Posted by in category: mobile phones

SAN FRANCISCO/SHANGHAI, Feb 8 (Reuters) — SoftBank Group Corp (9984.T) has shelved its blockbuster sale of Arm Ltd to U.S. chipmaker Nvidia Corp (NVDA.O) valued at up to $80 billion citing regulatory hurdles and will instead seek to list the company.

Britain’s Arm, which named a new CEO on Tuesday, said it would go public before March 2023 and SoftBank CEO Masayoshi Son indicated that would be in the United States, most likely the Nasdaq.

SoftBank acquired Arm, whose technology powers Apple’s iPhone and nearly all other smartphones, in 2016 for $32 billion.

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