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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
ARM will own 40% of the joint venture, while the other two firms will have a 30% interest each.
BC
-
Shein shifts IPO focus to Hong KongThe development piles fresh pressure on London’s beleaguered stock market, which many had hoped would be boosted by Shein’s IPO
-
Scientists turn lead into gold – could it wreck the yellow metal's price?Medieval alchemists have been vindicated after scientists turned lead into gold, but the results aren’t going to crash the gold price any time soon
