RIYADH: US firm Qualcomm is keen to buy a stake in SoftBank Group Corp.’s Arm in the chipmaker’s upcoming initial public offering, according to the firm's CEO.
“We’re an interested party in investing. It’s a very important asset and it’s an asset which is going to be essential to the development of our industry,” Cristiano Amon told the Financial Times.
According to the report, Qualcomm could join other firms to buy Arm outright if the consortium making the purchase was “big enough”.
Amon, however, admitted that Qualcomm has not talked to SoftBank about a potential investment in Arm.
SoftBank decided to go for an IPO of Arm after Nvidia Corp.’s planned $40-billion takeover did not work as per plan earlier this year.
A Bloomberg report has previously stated that Tokyo-based SoftBank is seeking a valuation of at least $60 billion for Arm.
