SoftBank Group, a leading multinational conglomerate holding company, and NVIDIA, a public-listed American multinational technology firm, recently announced the termination of the agreement regarding NVIDIA’s acquisition of Arm Limited.
The companies called ‘regulatory challenges’ the major reason behind the termination. According to SoftBank, it has now started preparations for a public offering of Arm Limited. In September 2020, Nvidia and SoftBank entered into a definitive agreement regarding Arm.
“Arm has a bright future, and we’ll continue to support them as a proud licensee for decades to come,” said Jensen Huang, the Founder, and Chief Executive Officer of NVIDIA. “Arm is at the center of the important dynamics in computing. Though we won’t be one company, we will partner closely with Arm. The significant investments that Masa has made have positioned Arm to expand the reach of the Arm CPU beyond client computing to supercomputing, cloud, AI and robotics. I expect Arm to be the most important CPU architecture of the next decade.”
SoftBank is one of the largest groups in the global financial world. With huge investments in companies around the globe, SoftBank has a stake in some of the world’s most prominent firms.
Public Offering of Arm
According to SoftBank, the company will prepare for a public offering of Arm within the fiscal year ending 31 March 2023. In a statement, Masayoshi Son, the Representative Director, Corporate Officer, Chairman & Chief Executive Officer of SoftBank Group Corp, said that the listing will accelerate the expansion of Arm Limited.
“Arm is becoming a center of innovation not only in the mobile computing revolution, but also in cloud computing, automotive, the Internet of Things and the metaverse, and has entered its second growth phase. We will take this opportunity and start preparing to take Arm public and to make even further progress. I want to thank Jensen and his talented team at NVIDIA for trying to bring together these two great companies and wish them all the success,” Son commented.
