Chip company Arm Holdings Ltd said on Monday it has put the brakes on the proposed transfer of two of its software businesses to its Japan-based parent SoftBank Group Corp. In July, Arm said it would transfer two units under its internet-of-things services group to Softbank and that it was aiming to complete the transfer by September. Arm, which supplies chips for virtually all mobile devices, said on Monday it has opted to keep the two units with separate accounting structures. SoftBank, a telecommunications carrier, acquired Arm for $32 billion (24.51 billion pounds) in 2016, its largest-ever purchase, in part to expand into the “internet of things” sector, which connects everyday devices from traffic signals to refrigerators to the internet. SoftBank declined to comment. Follow Gadgets Now on Facebook and Twitter. For the latest news, tech news, breaking news headlines and live updates checkout Gadgetsnow.com PROMOTED Portable Bluetooth Speaker Use coupon code- SPL4U100 for extra discount Buy Now Play Ludo with Friends Join Room & enjoy the Game Play Now Electronics & Accessories (Clearance Sale) Starting at Rs. 199/- (Up to 50% OFF) Shop Now
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