After Nvidia officially confirmed the morning’s news that it was ending its purchase of Arm, Arm’s CEO stepped down and was replaced by René Haas.
Arm’s new CEO Haas said in an opening interview that the past year and a half has been shrouded in uncertainty as the deal to acquire Nvidia has been in limbo. And, despite the fact that the financial situation of Arm has never improved, the company is forced to lay off some of its employees.
Nvidia said it was unable to convince regulators that the deal would not affect Arm’s licensing model and even suggested creating a separate entity to hold the chip design licenses. As a result of the failed deal, SoftBank, the current owner of Arm, will receive $1.25 billion in compensation.
Japanese holding company SoftBank, which owns a majority stake in Arm, has officially confirmed that it now plans to make it a public company, which will make up for the failed sale. The company is currently preparing for Arm’s initial public offering.
I want to thank Jensen and his talented team at Nvidia for trying to bring these two great companies together and wish them every success.
SoftBank CEO Masayoshi Son
Source: ixbt
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