VLSI Technology Inc, the San Jose, California chipmaker, has just raised around $35.5m by selling more than half its stake in ARM Holdings, the UK-based RISC chip designer. VLSI took advantage of the strong share price of ARM and sold 1.1 million shares – leaving it with a holding of 901,992. A long-standing investor in ARM, VLSI sold a fifth of its original 2.5 million shareholding at the time of the companyÆs IPO in 1997. Earlier this month Apple Computer Inc raised around $65m when it sold 2 million shares in ARM.
VLSI RAISES $35M WITH SALE OF ARM SHARES
