“In the new joint venture, Arm Limited, the SoftBank subsidiary sold a 51% stake of the company to a consortium of Chinese investors for paltry $775M.”
SoftBank sold control of Arm’s China business to local investors for $775 million. The board voted 7 to 1 to fire the CEO. He kept the company seal, and in China the seal is the company. Now Arm China is rebranding Arm’s IP as its own. SoftBank traded the keys for market access and lost both.