Chip giant ARM finds local partner for China operations
Joint venture ARM mini China to provide integrated circuit technology to Chinese chip companies with eye on boosting global sales
ARM Holdings, a British multinational semiconductor and software design company, has decided to transfer its China operations to a newly established joint venture, ARM mini China, The Paper reported.
A source told The Paper that the local partner of ARM mini China is the Houan Innovation Fund led by Hopu Investment Management Co. Ltd.
It is reported that its Chinese partner is holding a 51% stake in the joint venture, while ARM holds the rest. Also, it is said that the new joint venture plans to list on the A-share market, and its IPO plan may be quickly approved by the regulator.
According to ARM, the main intention of establishing a joint venture in China is to authorize the intellectual property and provide integrated circuit technology to Chinese chip companies, so as to achieve global sales via these Chinese producers.
Meanwhile, ARM will support indigenous innovations in China. ARM also has exclusive rights to new products developed by the joint venture.