ARM makes a grab for Californian analytics firm Treasure Data
BRITISH technology darling ARM Holdings has agreed to buy Us-based data analytics firm Treasure Data, according to a report by Bloomberg.
Treasure Data might fetch about $600m (£457m) in the sale, sources said, asking not to be identified because the deal had not yet been made public. A spokesman for ARM declined to comment. A representative for Treasure Data did not immediately respond to requests for comment.
The acquisition is part of ARM’S push into the “internet of things” – the concept of everyday items being connected to the internet and each other, feeding data back to their owner.
For businesses it could mean more efficient operations, for instance by monitoring repairs and maintenance more effectively. For consumers, the concept aims to give a more personalised service.
In June ARM, which is headed by chief executive Simon Segars, announced the acquisition of Stream Technologies, a Glasgow-based company that improves connectivity for “internet of things” devices.
Softbank, which bought Cambridgebased chip-maker ARM in 2016 for $32bn, is interested in investing in artificial intelligence, driverless cars, the “internet of things”, robotics and ride sharing, chief executive Masayoshi Son has said.
The company has announced about $34bn in deals in the past year, according to data compiled by Bloomberg, and is investing in technology companies through its nearly $100bn Vision Fund.
The Vision Fund’s scale has allowed the investment group to take the world of technology companies by storm, pushing up valuations for start-ups and in some cases even offering more money for investment than target companies wish to take. Other high-profile investments made by Softbank include office sharing group Wework and robotics company Boston Dynamics, which it bought from Google’s parent Alphabet.
Treasure Data raised $25m in late 2016, and is backed by investors including Sierra Ventures and SBI, a former subsidiary of Softbank.
The acquisition target, which is based in Mountain View, California, develops products to help companies analyse data for marketing and other purposes, such as dealing with a surge in data from a product launch or unifying information from sensors, according to its website.