ARM agreed to acquire Artisan Components in 2004 to pair its processor and system IP with Artisan’s physical semiconductor IP—the libraries, memories and other building blocks used to implement chips. ARM announced an implied deal value of about $913 million on August 23, 2004; the acquisition closed on December 23. In August 2025, Arm sold the former Artisan foundation-IP business to Cadence Design Systems.
What ARM agreed to pay, and how the offer worked
The announced $913 million was an implied aggregate value, not a cash-only purchase price. ARM Holdings and Artisan Components announced the definitive agreement on August 23, 2004, valuing each Artisan share at $33.89 based on ARM ADS closing prices on August 20.
| Deal measure | Terms reported | What the figure means |
|---|---|---|
| Offer for each Artisan share | $9.60 in cash plus 4.41 ARM ADSs | The consideration combined cash with ARM equity. |
| Expected aggregate components | Approximately $225 million in cash and 374 million new ARM ordinary shares, equivalent to about 125 million ADSs | These were approximate transaction-wide amounts described in the 2004 merger materials. |
| Implied aggregate value at announcement | Approximately $913 million | Calculated using the $33.89 implied per-share value and ARM ADS closing prices on August 20, 2004; it was not a fixed cash amount. |
| Average consideration reported at completion | $36.32 per Artisan share | The December 23, 2004 completion announcement used $9.60 cash plus 4.41 ADSs valued at $6.06 each. |
The announcement and closing figures are different snapshots, not contradictory purchase prices: the stock component’s value depended on ARM’s share price. The $913 million estimate reflected the stated August 20 reference price, while the closing release reported the average value using its stated $6.06 ADS price.
Why ARM wanted Artisan
ARM and Artisan occupied complementary layers of chip design. ARM supplied processor, data-engine and peripheral IP, along with software and development tools. Artisan supplied physical IP: reusable design blocks that help chipmakers implement a system-on-chip (SoC) in silicon.
#1 Best Overall
- High-performance foundation line, ARM Cortex-M4 core with DSP and FPU, 512 Kbytes Flash, 180 MHz CPU, ART Accelerator, Dual QSPI
- On-board ST-LINK/V2-1 debugger/programmer with SWD connector
- Can be powered from USB
- Three LEDs, Two Push-buttons
- Support of wide choice of Integrated Development Environments (IDEs) including IAR, ARM Keil, GCC-based IDEs
| Business | IP layer and examples | Customer reach described at announcement |
|---|---|---|
| ARM | Processor and system IP, software, and development tools | Relationships with more than 130 silicon manufacturers and leading electronic-design-automation companies |
| Artisan | Standard-cell libraries, embedded memories, I/O cells, analog functions, and high-speed interface IP | Licensing to thousands of IC design teams at more than 2,000 companies worldwide |
In practical terms, processor IP provides core computing capabilities; physical IP supplies configurable and reusable elements needed to translate a chip design into a manufacturable implementation. Artisan’s portfolio was optimized for performance, density, power and yield. Combining the businesses was presented as a way to give customers a broader SoC IP portfolio and connect system-level choices more closely with power and performance optimization. It also brought together ARM’s manufacturer relationships and Artisan’s broad design-team licensing base.
That was the companies’ stated strategic logic, not a guarantee that each customer would use both firms’ IP or that the acquisition would produce a particular financial return. Artisan president and chief executive Mark R. Templeton described the vision as “compelling.”
Rank #2
- Ultra-low-power with FPU ARM Cortex-M4 MCU 80 MHz with 1 Mbyte Flash, LCD, USB OTG, DFSDM
- On-board ST-LINK/V2-1 debugger/programmer with SWD connector
- Can be powered from USB
- Three LEDs, Two Push-buttons
- Support of wide choice of Integrated Development Environments (IDEs) including IAR, ARM Keil, GCC-based IDEs
When the acquisition closed
The deal completed on December 23, 2004, after ARM and Artisan shareholders approved it. At completion, ARM’s announcement reported average consideration of $36.32 per Artisan share, consisting of the $9.60 cash element and the 4.41-ADS stock element valued at $6.06 per ADS.
What happened to Artisan’s semiconductor IP
Artisan’s acquisition placed its physical-IP business within ARM. That ownership history has since changed: Arm’s fiscal 2026 filing says it completed the sale of its Artisan foundation-IP business to Cadence Design Systems on August 26, 2025. The business sold included standard-cell libraries, memory compilers and general-purpose I/Os. This establishes the later ownership of those foundation-IP assets, rather than implying that every product or function in Artisan’s original portfolio transferred as part of that sale.
Rank #3
How to read the $913 million figure
For a reader comparing headline deal values, the key distinction is between announced implied value and the value of consideration at a particular share price. ARM’s offer mixed cash and stock, so the value attributed to each Artisan share could change with ARM ADS prices. The roughly $913 million figure belongs to the August 2004 announcement’s pricing basis; the $36.32 per-share figure belongs to the completion release’s calculation. Neither should be described as $913 million in cash paid.
Quick Recap
Best Value
- STM32F103C8T6 ARM STM32 minimum system development module.
- ST-Link V2 support the full range of STM32 SWD interface debugging, simple interface (including power supply), 4 line speed, stable work.
- Use the current smart phones of Mirco USB interface, easy to use, USB communication and power supply can be done.
- The board lead to all the I/O resources.Download with SWD debug interface, which requires a minimum of 3 wires to complete debug a download task
Rank #4
- Mainstream Mixed signals MCUs ARM Cortex-M4 core with DSP and FPU, 512 Kbytes Flash, 72 MHz CPU, MPU, CCM, 12-bit ADC 5 MSPS, PGA, comparators
- On-board ST-LINK/V2-1 debugger/programmer with SWD connector
- Can be powered from USB.
- Three LEDs, Two Push-buttons
- Support of wide choice of Integrated Development Environments (IDEs) including IAR, ARM Keil, GCC-based IDEs
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