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Arm scraps transfer of Internet of Things units to SoftBank

UK chip designer to keep businesses as subsidiaries

Arm, SoftBank's U.K.-based chip design unit, has canceled plans to transfer its IoT and data analytics businesses to the parent company, opting instead to let them operate independently.   © Reuters

TOKYO -- U.K. chip designer Arm on Tuesday said it has scrapped the planned transfer of its Internet of Things businesses to parent company SoftBank Group.

In July, Arm announced that it would transfer its IoT platform and data analytics businesses, which currently operates under a division called the IoT services group, to SoftBank by September. The move was meant to enable Arm to focus on its main semiconductor design business, CEO Simon Segars said at the time.

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