SoftBank-owned ARM, which is based in t...
ARM Holdings is preparing a $600mn takeover bid for data analytics specialist Treasure Data, reports Bloomberg.
SoftBank-owned ARM, which is based in the United Kingdom and is an industry-leader in semiconductor and software design, is eyeing the acquisition to expand its footprint in the Internet of Things (IoT).
IoT is at the forefront of ARM's long-term strategy - in June, it completed the acquisition of leading technology connectivity management provider Stream Technologies and by 2035 it hopes to operate a trillion connected devices around the world.
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ARM was sold to SoftBank in 2016 for a reported $32bn, a purchase funded by SoftBank's Vision Fund which delivers investment for startups in advanced technologies such as artificial intelligence, driverless cars, robotics and ride sharing, as well as IoT.
Treasure Data operates cloud services tailored to Big Data collection, storage and analysis and already works with a number of major IoT companies. The California-based firm also has a significant presence in the automotive, retail and entertainment industries.
In 2016, it raised $25mn in funding and is supported investors including Sierra Ventures and SBI, a former subsidiary of SoftBank.