Wednesday, October 21, 2020
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SoftBank to sell UK’s Arm Holdings to Nvidia for $40bn

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SoftBank is set to sell the UK’s Arm Holdings to US chip company Nvidia for more than $40bn, just four years after its founder Masayoshi Son bought the chip designer and said it would be the linchpin for the future of the Japanese technology group.

The announcement of the deal hinged on SoftBank ending a messy dispute between Arm and the head of its China joint venture, Allen Wu, who earlier rebuffed an attempt to remove him and claimed legal control of the unit.

Several people close to SoftBank said the matter was now “resolved”, though one person close to Mr Wu said he “remains the chairman of Arm China”. A spokesperson for Mr Wu declined to comment.

The takeover values Arm above the $32bn price that SoftBank paid for the business in 2016, a deal that was struck weeks after the UK voted to leave the European Union and prompted critics including Arm’s founder to accuse the country of selling off the crown jewel of its tech sector.

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