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$66-billion-deal-for-nvidia-to-purchase-arm-collapses

$66 billion deal for Nvidia to purchase Arm collapses

By BizTech Weekly Feb 7, 2022

SoftBank’s $66 billion sale of UK-based chip business Arm to Nvidia collapsed on Monday. SoftBank will instead spin the business off via an IPO. The failure is set to result in a management upheaval at Arm, with chief executive Simon Segars being replaced by Rene Haas. Nvidia decided to abandon its pursuit of Arm at a board meeting earlier on Monday, said a person familiar with the discussion. Softbank will receive a break-up fee of up to $1.25 billion and is seeking to unload Arm through an initial public offering before the end of the year, said one of the people. The collapse of the deal robs SoftBank of a big windfall it would have earned thanks to a boom in Nvidia’s stock price . . .

Read more at arstechnica.com

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