Dentsu is set to exit marketing technology developer Treasure Data in an acquisition by Arm reportedly sized at about $600m.

Treasure Data, a US-based real-time data management platform backed by marketing firm Dentsu and Innovation Network Corporation of Japan, is set to be acquired by Arm, the semiconductor subsidiary of telecommunications conglomerate SoftBank, Bloomberg reported on Sunday.

The transaction is expected to be worth approximately $600m, though it has not been officially confirmed. The deal is thought to form part of a push into the internet-of-things sector by Arm.

Founded in 2011, Treasure Data has created an enterprise customer data platform that uses machine learning and artificial intelligence technologies to extract real-time insights into users across channels such as apps and phone calls.

The data can then be used to provide personalised offerings for customers. The company targets the internet-of-things, automotive, entertainment and retail industries.

Treasure has raised a total of $53m in funding, most recently closing a $25m series C round featuring Dentsu in 2016 that was co-led by SBI Investments, a subsidiary of financial services group SBI Holdings, and public-private partnership Innovation Network Corporation of Japan.

Scale Venture Partners, Sierra Ventures, IT Farm, AME Cloud Ventures and several private investors also took part in the series C round, and Treasure’s early backers also include accelerator Heavybit.