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HomeBusinessQualcomm CEO tells that it wants to buy Arm's stake in IPO

Qualcomm CEO tells that it wants to buy Arm’s stake in IPO

Qualcomm Wants to Buy Arm Stake 06

Qualcomm, in its upcoming initial public offering, wants to acquire a stake in SoftBank Group Corp.’s Arm Ltd., its chief executive officer told the Financial Times.

Qualcomm, based in San Diego, is willing to invest alongside its rivals and could buy Arm outright if the consortium making the purchase was large enough, Amon told the newspaper. SoftBank has not yet spoken to Qualcomm about a potential investment in Arm, he said.

After Nvidia Corp.’s planned $40 billion takeover collapsed earlier this year, SoftBank opted to float Arm. SoftBank wants to value Arm at least $60 billion, Bloomberg reports.

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