SK hynix considers to acquire Arm together with ‘partner companies’

SK hynix is ​​considering forming a consortium with other companies to take over Arm. The CEO of the memory chip manufacturer thinks that Arm cannot be acquired by one company. Nvidia previously stopped its takeover attempt.

It is not clear which other companies SK hynix wants to work with. CEO Park Jung-ho says according to South Korean news agency Yonhap consider forming such a consortium, whereby the companies would jointly acquire Arm. This idea would still be in its early stages.

In addition to being CEO of SK Hynix, Park is also CEO of South Korean investment firm SK Square. This company could also play a role in the acquisition of Arm, Park said at the time. “I want to buy Arm, if at all. We don’t need to acquire the majority of the shares to take control of the company,” Park said at SK Square’s shareholders’ meeting earlier this week.

Although SK hynix is ​​mainly known for memory chips, the company also makes other chips. This week, it received approval from South Korean authorities to acquire Key Foundry, a chip maker in that country. SK hynix also wants to open a research and development center in Silicon Valley to strengthen ties with tech companies there and thus be able to make more chips on behalf of companies.

SoftBank, the current owner of Arm, has wanted to sell the chip designer for years. In 2020, Nvidia announced its intention to buy the company for $40 billion, but in February it announced that it was ceasing its bid. Regulatory authorities in several countries were critical of the takeover plans. SoftBank is now planning to list Arm. This should be done within a calendar year.