Japan's SoftBank drops sale of Arm, plans IPO
ABC News
Japanese technology investor SoftBank says its planned sale of the British semiconductor and software design company Arm to U.S. chip maker Nvidia has fallen through
TOKYO -- Japanese technology investor SoftBank said Tuesday its planned sale of the British semiconductor and software design company Arm to U.S. chip maker Nvidia has fallen through.
SoftBank Group Corp. said Tuesday it plans an initial public offering of Arm after the intended sale to Nvidia failed due to regulatory problems. It said the IPO would come sometime in the fiscal year ending in March 2023.
Rene Haas, a semiconductor industry veteran, was tapped as Arm’s new chief executive, replacing Simon Segars.
“With the uncertainty of the past several months behind us, we are emboldened by a renewed energy to move into a growth strategy and change lives around the world again,” Haas said.
