'Key Apple suppliers' showing interest in buying Arm stake
What you need to know
- Two key Apple suppliers might be interested in buying Arm from SoftBank.
- Apparently, both TSMC and Foxconn have shown an interest.
- They were presented with select financial data and projection from the company.
A report says two key Apple suppliers have shown an interest in purchasing Arm Ltd from SoftBank Group.
As reported by TSMC: '
According to the report, representatives for SoftBank Group have been in touch with "several tech giants" about the sale of Arm, which it bought for $32 billion four years ago. Sources said that companies approach include Apple suppliers TSMC and Foxconn, Apple, Qualcomm, and Nvidia.
The companies were given "select financial data and projections prepared by Arm to evaluate a potential acquisition or investment". According to sources, TSMC and Foxconn showed "some interest". Nvidia is considered to be the frontrunner in the deal and is already in "advanced talks" regarding an outright acquisition. Both Foxconn and TSMC are reportedly more interested in securing a small stake. Apple no longer appears to be interested.
As the report notes:
According to the report, Softbank is "eager" to find new investors quickly due to their own financial issues, however, many prospective bidders including TSMC and Foxconn are worried about getting caught in the U.S.-China crossfire, in particular with regard to Huawei, Arm's biggest client in China.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9