Arm plans to spin off automotive and IoT business lines, announces personnel changes in preparation for listing

On October 19, according to DIGITIMES, the chip IP supplier Arm has decided to spin off its automotive and IoT business lines.

"We've made great strides in both the automotive and IoT markets, but until now we've all been part of the same group," Arm CEO Rene Haas said in a company release. Timing, because they're all big independent businesses now."

After the split, Arm will have four separate business lines: automotive, client, infrastructure and IoT.

The news comes as Arm also announced several personnel changes by rotating leadership across its lines of business. Separately, at the end of September, the company named a new chief financial officer and added two new board members. The move marks its preparations for an IPO.

According to Reuters, SoftBank Group CEO Masayoshi Son had previously raised the possibility of establishing a strategic alliance between Arm and Samsung Electronics, but he did not propose Samsung to invest in Arm during his visit to South Korea.

At the same time, a sluggish IPO market has sparked speculation about the future of the chip architect. "We're making room for new perspectives, new priorities and opportunities for growth, and to position ourselves for further success at this pivotal point in the company's growth trajectory," said Haas.