Softbank's new acquisition ARM Holdings reported a 5 percent rise in its Q2 profit.
The UK-based chip maker announced the figure of £130.1 million, up from last year’s £123.9 million figure for the same period.
The firm reported revenues of £267.6 million for the quarter, a 17 percent increase from the previous year, or a 9 percent increase in dollar revenues.
ARM saw processor licensing revenues up 24 percent in pounds and 14 percent in dollars, while processor royalty revenues were up 19 percent and 11 percent in pounds and dollars respectively.
The quarter saw ARM acquiring fellow UK company Apical, an imaging company, in May for $350 million in cash. It also announced a strategic partnership with the Chinese private equity firm HOPU Investment Management, with the pair launching an industry fund focused on the Internet of Things, smart devices, big data and cloud computing.
ARM designs microchips used in smartphones such as those made by Apple and Samsung.
ARM confirmed in July that it will be acquired by Japan’s Softbank for £24bn, driving its share price up 45 percent. The combined company will aim to capitalise on the internet of things market.
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The deal will be funded by Softbank’s own cash reserves and a long term loan from Mizuho Bank. The £24 billion offer is around a 43 percent premium on its closing market value of £16.8 billion on Friday 15 July.
Softbank gave assurances to ARM including preserving the current ARM organisation, senior management and partnership based business model. Softbank also pledged to at least double the employee headcount at the Cambridge-based company and also increase the headcount outside the UK over the next five years.
The Chairman of ARM Stuart Chambers said at the time: “ARM is an outstanding company with an exceptional track record of growth. The Board believes that by accessing all the resources that SoftBank has to offer, ARM will be able to further accelerate the use of ARM-based technology wherever computing happens.”
