Arm loses leg
June 6, 2018
Softbank has sold 51% of ARM’s China operation for $775 million to local investors, according to Reuters.
ARM gets about a fifth of its $1.4 billion annual revenues from China.
Under the deal the 51% share will be owned by a consortium led by the Hou An Innovation Fund which is jointly managed by ARM and Hopu Investments with Hou An the controlling shareholder.
Hou An’s backers include China Investment Corporation, Silk Road Fund, Temasek Holdings, Shum Yip Group and Hopu.
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