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Softbank To Put $8B ARM Stake In Fund With Saudi Arabia

by fortune.com posted 1year ago 357 views
Japan's SoftBank is to place a roughly $8 billion stake in ARM, the British chip designer it bought last year, into a technology investment fund it has created with Saudi Arabia. SoftBank (sftby), run by founder Masayoshi Son, bought ARM, Britain's most valuable technology company, for $32 billion last year. The FT cited two people close to the situation as saying SoftBank would place 25 percent of ARM into its Vision Fund. It said the decision was made as the fund was seeking to secure the backing of Mubadala, the Abu Dhabi state-backed investment...