Semiconductor intellectual property giant ARM Holdings has teamed up with two digital security firms to create a joint venture aimed at creating a secure environment for services running on high-tech gadgets such as smartphones and tablets.
ARM, together with Gemalto and Giesecke & Devrient, will contribute assets to the new unnamed company, including patents, software, people, cash and capital equipment.
"The cash contributed by ARM is not significant in the context of ARM's balance sheet," the statement said.
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ARM will own 40% of the joint venture, while the other two firms will have a 30% interest each.
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