Quest was the subject of a bidding war which also involved private equity firms Insight Venture Partners and Vector Capital.

The US-based cloud gaming company backed by Intel Capital and Qualcomm Ventures, sells to Sony, after raising $30m in a round backed by the corporate venturing units last year.

A source close to the deal said ARM, which declined to comment, was unable to find other venture capital (VC) partners that were ready to help create Cognovo and in the end decided not to be the only funding source.

Endress+Hauser, a family-owned Switzerland-based industrial group, has acquired corporate venturing-backed SpectraSensors.

The investment will help Cooliris expand in the Japanese market.

Alongside Vorwerk in the round was Omnes Capital, the venture capital firm spun out of French bank Credit Agricole.