Hima Mukkamala, senior vice president and general manager for IoT cloud services at Arm, said Stream brings a “highly complementary solution” to its device management offer.

It comes at a crucial time as the number of devices entering the market is expected to rise by 100 billion in the next four years.

“It brings a solid team, it brings solid technology, and customers who we can start innovating with,” he said.

“One of the main reasons why we acquired Stream is how complementary it is to what we do, how it actually accelerates giving value to our customers,” he said. “We are going to innovate a lot and grow the organisation so we can take the product faster to market, and serve a large number of customers together.”

Mr Mukkamala said that he was now working closely with Mr Chadwick on long-term projects. He added: “One of the main reasons we acquired Steam is what they have been able to do over the last 20 years with such a strong technical team, and being able to offer such immense value to their customers. In addition, they bring a culture that fits well into how Arm does things.”