Arm has announced its intention to sell its two IoT businesses, IoT Platform and Treasure Data, to the SoftBank group. The move will allow the UK-based company to focus entirely on its semiconductor IP business, which has made it a household name in the technology industry. While the new entities created from the plan will be owned and operated by SoftBank, Arm plans to continue collaborating with the new activities of the IoT Services Group (ISG).
IoT Service Group
Arm CEO Simon Segars said in a press release that SoftBank's experience managing start-ups would be beneficial to its ISG activities, saying: “Arm believes there are great opportunities in the symbiotic growth of data and computing. . SoftBank's experience managing fast-growing and early-stage companies would enable ISG to maximize its value in capturing data opportunities. Arm would be in a better position to innovate on our basic IP roadmap and further support our partners in taking advantage of growing IT solution opportunities in a variety of markets. The transfer of ISG's activities from Arm is still subject to further review by the board of directors and under customary closing conditions, but the company estimates the merger will be finalized by the end of September this year.