CDP Treasure Data is set to be bought by chip designer ARM Holdings for around $600 million, according to an unconfirmed Bloomberg report. It’s part of ARM’s strategy for Internet of Things. Treasure Data is especially good at dealing with large streams of semi-structured data, such as IoT devices produce. ARM, a SoftBank subsidiary, licenses semi-conductor chip designs and related intellectual property to semi-conductor manufacturers. Presumably that’s who they expect will use Treasure Data.