Home MarketsAsia SoftBank CEO Syn seeks ‘strategic alliance’ between Arm and Samsung

SoftBank CEO Syn seeks ‘strategic alliance’ between Arm and Samsung

by SuperiorInvest

Masayoshi Son, CEO of SoftBank, has been considering various options for chipmaker Arm after Nvidia walked away from buying the company.

Alessandro Di Ciommo | Nurphoto | Getty Images

SoftBank Chief Executive Masayoshi Son said he was looking for a “strategic alliance” between chip maker Arm, which is owned by the Japanese giant, and the South Korean tech conglomerate. Samsung.

“I intend to visit Korea. I look forward to visiting Korea for the first time in three years. I would like to talk to Samsung about a strategic alliance with Arm,” Son said in a statement.

SoftBank did not provide any further details on what the strategic alliance would entail, but it could mark a major shift in strategy for Son and his vision for Arm.

Samsung declined to comment when contacted by CNBC.

SoftBank has acquired UK-based Armone of the world’s top chipmakers, in 2016, and Son has since said he is key to the company’s long-term vision as more and more devices connect to the Internet.

Since then, SoftBank has tried to sell the arm to the chip maker Nvidia but the deal fell through in February.

Son is now seeking a public listing of Arm, preferably in New York. However, the British government wants Arm to be listed on the London Stock Exchange. SoftBank wants to keep a majority stake in Arm after the initial public offering.

Samsung Vice Chairman Lee Jae-yong said on Wednesday that he plans to meet with Son when he visits South Korea, according to a report by The Korea Herald.

Lee said Son “may come up with such a proposal” regarding Arm, but admitted he “has no idea what it is,” according to statements published by The Korea Herald.

The Arm chip architecture is behind many of the world’s smartphone processors, including those from Apple and Samsung.

Other companies have also been touted as interested in buying a stake in Arm. Cristiano Amon, CEO of the American chip maker Qualcomm, he said the company is “interested in investing” in Arm earlier this year.

There has also been speculation about a consortium model with several companies being part of the group investing in Arm.

SoftBank has been under pressure to cash in on Arm after its flagship technology investment business, The Vision Fund posted record losses in its latest fiscal year. SoftBank has sold the rest of its entire stake in the American Ride Hailing Company Uber in the second quarter and trimmed his property in the Chinese e-commerce giant Alibabaget cash.

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