Foreign media: Softbank hired Goldman Sachs to sell Treasury data for us $1 billion

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Sina science and technology news, Beijing time on July 21, morning news, according to foreign media reports, people familiar with the matter disclosed that Softbank group hired Goldman Sachs to sell its data and equipment management department treasure data for about $1 billion.
Earlier this month Softbank said it would spin off its operations from chip maker arm Ltd. As part of arm, although the transaction data business has grown, it requires a certain degree of investment, which limits arm’s ability to spend money on its own growth plans.
The $1 billion sale price is about 66% higher than the price arm paid for treasure data in 2018. Softbank believes the price is achievable, according to people familiar with the matter, who declined to be named. Softbank’s plans are also likely to change and may still decide to retain the asset.
Softbank, led by billionaire founder justice sun, reported a record revenue loss in May after reducing investment in companies such as Wework and Uber. Softbank shares plummeted in March, but rebounded sharply after share buybacks and profits from other bets. Last month, the Japanese group raised at least $14.8 billion after selling its stake in U.S. mobile operator T-Mobile as part of a $42 billion sale of assets and debt service.
Treasure data was acquired for about $600 million and integrated into arm in an attempt to accelerate the adoption of the “Internet of things” technology. More devices are connecting to the network to collect and analyze data. The plan was that the gadgets would be based on ARM chips, while treasure data would sell software to help companies connect and manage new hardware. Customers listed on the company’s website include Subaru Corp. (Berg)