(Bloomberg) -- U.K. chip-design powerhouse ARM Holdings Plc is courting bidders for a loss-making cyber security joint venture, the Telegraph reported.
The Trustonic Ltd. venture, which ARM and its Dutch partner founded seven years ago, said in a regulatory filing its owners decided “to make the business available for sale,” according to the newspaper.
ARM and its partner's parent, Thales SA, declined to comment, the Telegraph said, adding that the venture's documents suggest its last fundraising valued it at about 60 million pounds ($78 million).
SoftBank Group Corp., whose Vision Fund is the biggest source of investment money flowing to Silicon Valley, spent $32 billion on the U.K.-based ARM in 2016. Now ARM's Chief Executive Officer Simon Segars is considering a return to the public markets, according to the Telegraph.
To contact the reporter on this story: Elena Mazneva in London at emazneva@bloomberg.net
To contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Eddie van der Walt, James Amott
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