08.02.2022 07:46:14

Nvidia Terminates Agreement To Buy Arm From SoftBank

(RTTNews) - Technology company Nvidia Corp. (NVDA) announced Tuesday the termination of the previously announced agreement to buy Cambridge-based chip designer company Arm Ltd. from SoftBank Group Corp. (SFTBY.PK, SFTBF.PK).

The decision was taken due to significant regulatory challenges preventing the consummation of the transaction, despite good faith efforts by the parties. Arm will now start preparations for a public offering.

In accordance with the terms of the deal, SoftBank will retain the $1.25 billion prepaid by NVIDIA, which will be recorded as profit in the fourth quarter, and NVIDIA will retain its 20-year Arm license.

It was in September last year that NVIDIA and SoftBank entered into a definitive agreement for Arm, which reportedly was valued at $40 billion.

SoftBank Group also announced that, in coordination with Arm, it will start preparations for a public offering of Arm within the fiscal year ending March 31, 2023. According to SoftBank, Arm's technology and intellectual property will continue to be at the center of mobile computing and the development of artificial intelligence.

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