Chip designer Arm Ltd .’s China joint venture could be acquired by a firm whose origin is shrouded in mystery, in the latest chapter of a two-year boardroom struggle with ousted Chairman and CEO Allen Wu.

In a statement published last week, the firm in question — Lotcap Group — said that it had signed a letter of intent to buy a 51% stake in Arm China from Chinese shareholders Amber Leading (Hong Kong) Ltd.,

Mysterious firm Lotcap seeks to take controlling stake in Arm China comes via ChinaTechNews.com.