BRITISH chipmaker Arm yesterday said revenues had surged 28 per cent in the past quarter as its parent company Softbank gears up for a much-anticipated float at the end of this year.

In a trading update on its third quarter trading, the Cambridgeheadquartered firm said revenues had topped $746m (£620m) after its partner firms shipped a record 8bn Arm-based chips.

Licensing revenues at the chipmaker jumped 65 per cent to $300m on the back of "strategic long-term agreements with four key customers", Arm chiefs said, while royalty revenues jumped 12 per cent after a boost in demand for its server technology.

The revenue growth provides a boost to the firm as it prepares to shift on to the public markets this year in a much anticipated IPO.

Arm's parent company, the Japanese investment giant Softbank, has been angling to float the firm since early last year after a blockbuster merger deal with rival Nvidia fell apart after intense scrutiny from regulators.

Softbank has been smarting from a huge loss as part of the ongoing instability in the tech industry.

Softbank's billionaire boss Masayoshi Son called in chief Rene Haas to oversee the firm's shift on to the public markets last year after the breakdown of the deal. Haas said yesterday the results showed the firm was now poised to make an "even greater impact".

(c) 2023 City A.M., source Newspaper