Softbank, Arm’s owner, is a customer of Treasure Data and a former Softbank subsidiary called SBI (it used to be called Softbank Investments) is an investor in Treasure Data.

Treasure Data was founded seven years ago and has raised $54 million in venture funding since then. Its last funding round was for $26 million raised in 2016.

Arm, which has turned loss-making since Softbank bought it, says the acquisition will help its efforts in IoT.