ARM is reportedly buying the data analytics start-up Treasure Data to boost its IoT portfolio. SoftBank-owned ARM Holdings is in the process of striking a deal to buy the Mountain View-California-based company for around US$600 million.
Seven-year-old Treasure Data has raised $54.1 million in several funding rounds. Investors have included Scale Venture Partners, Innovation Network Corp. of Japan, and Sierra Ventures. Its platform enables a single view of customer data to make data-driven decisions.
The acquisition of Treasure Data would boost ARM’s IoT ambitions. Its technology can ingest IoT data from any connected device, correlate data from multiple data sources, and use machine learning to act on insights.