Exclusive: SoftBank is in talks to acquire the 25% stake in Arm it does not directly own from Vision Fund 1, a $100 billion investment fund it raised in 2017, potentially delivering a win for investors who have waited years for strong returns
after an arid spell that lasted a year and a half, as major companies including grocery delivery service Instacart and marketing automation firm Klaviyo Inc get ready to list in New York.
Earlier this year, Arm rebuffed a campaign from the British government to list its shares in London and said it would pursue a flotation on a U.S. exchange. Arm's business has fared better than the broader chip industry because it licenses designs rather than paying to make processing systems itself. Its technology has become ubiquitous in smart phones and data centers, delivering lucrative royalty payments. Yet demand for smart phones has weakened lately, weighing on Arm's earnings.
In a show of Arm's significance for its investment portfolio, SoftBank in April asked Arm Chief Executive Rene Haas to join its board of directors. Reporting by Echo Wang and Anirban Sen in New York; Editing by Greg Roumeliotis, Mark Porter and Diane CraftEcho Wang is a correspondent at Reuters covering U.S. equity capital markets, and the intersection of Chinese business in the U.S, breaking news from U.S. crackdown on TikTok and Grindr, to restrictions Chinese companies face in listing in New York. She was the Reuters' Reporter of the Year in 2020. Contact: +9172873971Anirban Sen is the Editor in Charge for U.S.
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Exclusive: SoftBank in talks to buy Vision Fund's 25% stake in Arm -sourcesSoftBank Group Corp is in talks to acquire the 25% stake in Arm Ltd it does not directly own from Vision Fund 1 (VF1), a $100 billion investment fund it raised in 2017, according to people familiar with the matter, potentially delivering a win for investors who have waited years for strong returns.
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