Softbank CEO Sun Yizheng
The joint venture will be responsible for all licensing and royalties between ARM and China partners.
According to Nikkei news, the joint venture began operations in April and plans to conduct an IPO (initial public offering) on a stock exchange in China.
The report said that the newly formed joint venture company has been officially registered in Shenzhen, China. Its 51% stake is held by Chinese investors and ARM holds the remaining 49%.
In 2016, Softbank acquired the UK’s most valuable technology company, ARM, for US$32 billion.