Samsung to Join Race to Acquire Britain's ARM

  • By Shin Eun-jin

    September 22, 2022 12:55

    Samsung chief Lee Jae-yong arrives at Gimpo International Airport in Seoul on Wednesday after a two-week overseas trip. /Yonhap
    Samsung plans to join the race to acquire British semiconductor and software design company ARM.
    Samsung chief Lee Jae-yong, asked by reporters if he had met ARM top management during a recent overseas trip, said no, but Softbank CEO Masayoshi Son "will come to Seoul next month. I think he's going to make a proposal, but I don't know what."
    Softbank is the parent company of ARM, so Lee's remarks suggest that Samsung is at least interested.
    Softbank tried to sell ARM to Nvidia in 2020 but failed due to monopoly concerns. The price mentioned at the time was US$40 billion.
    Samsung's acquisition of ARM could also trigger monopoly concerns, which raises the prospect of joint acquisition with a partner.
    Meanwhile, there is speculation that Lee will finally assume the official title of Samsung chairman on Nov. 1, which is the conglomerate's founding day. Lee only holds the title of vice chairman while the chairmanship remains vacant since his father Lee Kun-hee's death.
    But Lee said it is "more important to ensure that the company is operating properly."
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