SoftBank Group selling Arm to NVIDIA for up to $40 billion

This file photo taken on May 27, 2019 shows a photographer taking pictures in front of the logo for British chip designer ARM in Taipei. Japan’s SoftBank Group said on September 14, 2020 it is selling British chip designer Arm to US chip company NVIDIA for up to 40 billion USD, potentially creating a new giant in the industry.(photo: Sam YEH / AFP) If approved, the deal will be one of the largest acquisitions anywhere in the world this year, and will propel NVIDIA to the forefront of the semiconductor sector. The announcement also renewed speculation about SoftBank Group’s future, with Bloomberg News reporting it is set to revive talks about going private via a management buyout plan. The Arm sale is valued at up to $40 billion and is subject to approval by authorities in several jurisdictions, including Britain, China, the United States and European Union, SoftBank Group said. It hopes the deal will be completed by around March 2022, it added in a statement. SoftBank Group shares soared in early morning trade in Tokyo, rising by almost 10 percent before settling slightly, up 7.78 percent to 6,316.0 yen around 30 minutes into the day. Founded in 1990 in… Read full this story

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