Yeah, ARM originally stood for Advanced RISC Machines. And the company grew out of Acorn Computers, a British company that made some excellent, innovative computers in the 1980s and 90s, including the BBC Microcomputer (not RISC) and the original RISC machine, the Acorn Archimedes. (The BBC Micro was central to computer education in the UK and the Raspberry Pi is an attempt to get back to the spirit of that project. The Raspberry Pi also uses a RISC CPU.)