Yesterday, Apple invested $750 million in Arm's initial public offering. In addition, it has signed a new deal with Arm for chip technology that "extends beyond 2040," according to Arm's initial public offering documents filed on yesterday.
Arm unveiled pricing on Tuesday for what it hopes will be a $52 billion initial public offering, which would be the largest such deal in the U.S. this year. Arm owner SoftBank Group, plans to offer 95.5 million American depository shares of the United Kingdom-based company for $47 to $51 apiece, Arm said in a filing.
Arm owns the intellectual property behind the computing architecture for most of the world's smartphones, which it licenses to Apple and many others. Apple uses Arm's technology in the processes of designing its own custom chips for its iPhones, iPads and Macs.
The two companies have a long history, as Apple was one of the initial companies that partnered to found the firm in 1990, before the release of its "Newton" handheld computer in 1993, which used an Arm-based processor chip. For more, read the full Reuters report.
Yesterday, Arm Announced the Launch of their IPO Roadshow for the initial public offering (the “IPO”) of American depositary shares (“ADSs”) representing its ordinary shares.