SoftBank completed its £24 billion acquisition of UK’s ARM, after receiving final regulatory clearance late last week.
In a statement, the Japanese technology giant said ARM would be delisted from the London Stock Exchange as of tomorrow (6 September).
The mega acquisition, first announced in July, will see SoftBank step up efforts around the Internet of Things.
Confirmation comes just a few days after the companies said they had received clearance from the UK courts to go ahead.
“Pursuant to the terms of the acquisition, SBG (SoftBank Group) purchased all of the ARM’s issued and soon to be issued shares (excluding any ARM shares already owned by SBG or an SBG subsidiary) for cash, for a total acquisition price of amount to approximately £24 billion,” ARM noted in its statement.
SoftBank added ARM’s financial results will be consolidated and reflected in its own financial statements going forward as of today, and will announce the “impact of consolidation once it is verified”.
In its own statement confirming the deal, ARM said its chairman Stuart Chambers stepped down from the company’s board of directors, along with six other board members.