SoftBank Group's plan to sell its UK subsidiary ARM to Nvidia failed due to long-standing regulatory hurdles, and Simon Segars, head of the chip design business, resigned.
In a joint statement, SoftBank and NVIDIA listed regulatory challenges as reasons for terminating the deal.
Rene Haas, President of Ammou Intellectual Property Group, will succeed Higas as CEO and will join the Board as a Director.
Anmou will begin preparations for listing for the financial year ending 31 March 2023.
Jensen Huang, founder and CEO of NVIDIA, said Anmou was at the center of "an important driving force for change in computing." Although it cannot become a company, NVIDIA will still work closely with Anmou.
As part of its agreement with Nvidia, SoftBank received a non-refundable $1.3 billion bond, which SoftBank plans to recognize as a profit in fiscal fourth quarter 2021(ending March 31).
Richard Windsor, founder of research blog Radio Free Mobile, wrote that SoftBank was the biggest loser because the rebound in Nvidia's stock price meant the more than $30 billion in profits it should have made from the sale had evaporated.
The deal was initially valued at $40 billion, but the amount of the deal gradually rose as Nvidia's share price rose as Nvidia plans to pay part of the purchase with its shares.
Windsor added that the public market is unlikely to give Anmou a valuation of around $70 billion, which is why SoftBank has been keen to strike a deal with Nvidia rather than an IPO.
Nearly 17 months after the deal was announced, Nvidia has yet to obtain approval from authorities in the United States, The United Kingdom, China or Europe.
Anmou was a public company before being acquired by SoftBank, and it has remained neutral in the semiconductor industry for a long time by providing reference designs used by multiple chipmakers. (C114 Jiang Junmu)