British computer chip designer ARM Holdings Plc has reportedly agreed to purchase the U.S. based Treasure Data Inc. The data analytics firm located in Mountain View, California might collect around $600 million in sale value, as per reliable sources who chose to remain anonymous citing the fact that the deal has not been made public yet.

The move comes on the heels of ARM, which is owned by SoftBank, looking to move into the Internet of Things (IoT) domain. Incidentally, ARM’s largest deal was in favor of Artisan Components Inc., in the 2004, which was valued at $705.9 million, as per the Deccan Herald. Along the lines of its current development ARM had also announced back in June the procurement of Glasgow-based Stream Technologies, a company working towards improving IoT devices’ connectivity.

SoftBank, back in 2016 acquired the Cambridge headquartered ARM for a sum of $32 billion. According to its Chief Executive Officer, Masayoshi Son, the firm planned the move amidst the backdrop of its growing interest in the fields of Artificial Intelligence, Internet of Things IoT, driverless vehicles, ride sharing and robotics.

For the record, Treasure Data, in the ending span of the year 2016 reportedly raised around $25 million & is supported by investors such as Sierra Ventures & SBI – a former SoftBank subsidiary.

Treasure Data works in developing products that aids companies to analyze data for marketing and other purposes like handling data surges that occur during product launch or integrating information coming from sensors.

Treasure Data products are used by a plethora of industries like retail, IoT, automotive, and entertainment. According to a company statement, its client data platform could help its users rival data giants like Facebook, Amazon and Netflix.

Despite the acquisition doing rounds of the tabloids, ARM declined to give a comment on the matter. One of the spokespersons of the Treasure Data did not respond either, when probed about the deal.