SoftBank and Arm are considering acquiring Ampere Computing, a source told Reuters

(Reuters) -Japanese technology investor SoftBank (TYO:) Group and its majority owned The hand Holdings (NASDAQ: ) is exploring a deal for Oracle-backed semiconductor firm Ampere Computing, a person familiar with the matter said on Wednesday.

Ampere has won interest from Arm as it explores its strategic options, the person said, adding that talks may not be finalized.

This story was first reported by Bloomberg News.

Arm declined to comment when contacted by Reuters, while Ampere and SoftBank did not immediately respond to requests.

Ampere, which is led by former Intel executives, has been working with a financial advisor to facilitate takeover interest, Bloomberg News reported in September.

Founded by Renee James, former president of Intel (NASDAQ:), Ampere uses technology from Arm to make the core chips used by Oracle (NYSE:), Alphabet (NASDAQ:)’s Google and others .

The startup focuses on making more efficient chips than those from industry leaders Intel and Advanced Micro Devices (NASDAQ:).

Oracle has invested hundreds of millions of dollars in Ampere since its founding, according to reports.