Qualcomm Wants to Buy Stake in Arm company

Chief Executive Officer Cristiano Amon told that Qualcomm wants to take a stake in SoftBank Group Corp.'s Arm Ltd. in the chipmaker's upcoming IPO.

Qualcomm, based in San Diego, is interested in investing alongside its competitors and could ...

...acquire Arm outright if the consortium making the purchase were large enough, Amon told the newspaper.

SoftBank and Qualcomm have not yet discussed a possible investment in Arm, he said.

SoftBank decided to IPO Arm after Nvidia Corp.'s proposed $40 billion takeover collapsed.

Bloomberg reports that Tokyo-based SoftBank is looking for a valuation of at least $60 billion for Arm.

The arm was founded and headquartered in the UK and was listed in London and New York.

In 2016, SoftBank acquired Arm for £24.6bn, despite widespread concerns about Britain's most successful tech company falling into foreign hands.

Investing alongside rivals in Arm would "support an IPO and valuation" and ensure that the company would "strive and invest", said Amon.