Arm Holdings plc was incorporated on 9 April 2018 as a wholly-owned subsidiary of Arm Limited under the laws of England and Wales, with nominal assets and liabilities, contingencies and commitments. Arm Limited was incorporated on 12 November 1990 as a private company with limited liability under the laws of England and Wales. The company designs, develops and licenses high-performance, low-cost and energy-efficient CPU products and related technologies that many of the world's leading semiconductor companies and original equipment manufacturers rely on to develop their own products. Today, Arm CPUs run the vast majority of software in the world, including operating systems and applications for smartphones, tablets and PCs, data centers and networking devices, vehicles, and embedded operating systems in devices such as smart watches, thermostats, drones and industrial robots.