SoftBank plans to take Arm public after Nvidia’s $66 billion takeover deal collapses

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Nvidia’s planned acquisition of Arm from SoftBank has collapsed due to “significant regulatory challenges,” the companies said in a joint release Tuesday.

SoftBank said Arm will now prepare for a public offering within the fiscal year ending March 31, 2023.

Arm CEO Simon Segars has stepped down and has been replaced with Rene Haas with immediate effect.