Arm, the leading provider of processor technology, has announced that it is acquiring a minority stake in Raspberry Pi, the maker of low-cost, mini-computer boards. The deal aims to support the growth of Internet of Things (IoT) devices and applications, by giving more people and businesses access to affordable and powerful computing platforms.

Raspberry Pi has been using Arm technology as the foundation of its products since 2008, and has sold over 40 million units worldwide. Its latest model, the Pi 5, offers 8GB of memory and can run lightweight operating systems or various projects created by the community. The Pi 5 costs $80 and is available now.

Paul Williamson, SVP and GM of Arm’s IoT Line of Business, said that the investment is a testament to Arm’s commitment to the developer community and to its partnership with Raspberry Pi. He added that platforms like Raspberry Pi are critical to driving the adoption of high-performance IoT devices globally, by enabling developers to innovate faster and more easily.

Eben Upton, CEO of Raspberry Pi, said that the investment is an important milestone in their longstanding relationship with Arm. He said that Arm technology offers them the compute performance, energy efficiency and extensive software ecosystem they need, as they continue to remove barriers to entry for everyone, from students and enthusiasts, to professional developers deploying commercial IoT systems at scale.

The terms of the deal were not disclosed, but Arm said that it will have more influence on Raspberry Pi’s future direction as a stakeholder. It is unclear whether Raspberry Pi will launch any new product line-ups as a result of this deal, but it is expected that the collaboration will benefit both parties and the IoT industry as a whole.