Japanese investment group SoftBank Group Corp. has bought a 25% stake in chip manufacturer Arm Ltd. from Softbank’s Vision Fund.
The acquisition was reportedly made at a $64 billion valuation.
Arm Ltd.’s chip designs are used throughout the majority of mobile devices and smartphones worldwide.
SoftBank’s deal comes ahead of Arm Ltd.’s expected initial public offering later this fall, which is expected to be the largest IPO of the year.
