but how did we get to this ipo after the end video deal fell apart yeah its pretty amazing so softbank tried to sell the arm business in video it cut a deal more than a year ago but that faced almost immediate backlash from the customers of arm and also from regulators so just last month in video ended up calling off the deal recognizing that it was not going to be able to get the kind of regulatory approvals that it wanted and softbank quickly said that its backup plan was going to be to take on public so now what were seeing is arm is beginning to talk with bankers and its heading towards an ipo with the arm business there were concerns that softbank was not going to be able to get a very high valuation for arm as it took it public but now what were hearing from sources is that its aiming for the 60 billion dollar figure which as you say is even more than it had expected to get from in media they still of course still have to convince investors that harm is worth that kind of money now what do banks need to do to win whats going to be a rather rather lucrative mandate well they are pitching this deal as of course theres a lot of interest in the semiconductor space right now there are shortages that are kind of rocking the industry and theres strong demand for chips as they go into all sorts of products of course smartphones and computers as weve seen in the past but increasingly into other things like cars and appliances and all sorts of other things too so theres strong demand arm kind of sits at the nexus of design and the chip industry they sell designs they license designs to a whole range of different players its been sort of a collaborative effort where they work with many different companies so they need to be able to boost their revenue they need to be able to profit from all these new technologies that are being used in a wide range of products really across the industry