British semiconductor giant Arm reportedly tried to buy a chunk of struggling Intel, but was turned away [Fortune]
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Source: Fortune
The group approached Intel about the prospect of buying up its product unit, Bloomberg reported citing someone with direct knowledge of the matter. However, Intel reportedly told Arm the unit wasn't for sale. The high-level inquiry focused on Intel's product group, which sells chips for personal computers, rather than the company's manufacturing operations. A representative for Arm declined to comment. A representative for Intel didn't immediately respond to Fortune's request for comment. Intel effectively split its product and manufacturing divisions earlier this year into Intel Foundry and Intel Product in a bid to create more chips for customers, akin to world leader TSMC. The group partnered with Arm in February on a vague “Emerging Business Initiative” that would see Intel work with startups developing Arm-based system chip processors. Arm CEO Rene Haas described the partnership as “a bit of strange bedfellows.” Now, however, Softbank-owned Arm appears to want more of
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