SoftBank has completed the Purchase of British chip designer ARM Holdings for $31.4 billion back in July.
After less than two months, Softbank is announcing today that the transaction is complete. ARM will be de-listed from the London Stock Exchange tomorrow.
SoftBank’s purchase of ARM is the latest in a line of acquisitions in recent years for the Japanese company, including the $20 billion Sprint acquisition, and a $15 billion investment in Vodafone’s Japanese division.
SoftBank is expected to use the ARM deal to bolster its Internet of Things plans. While ARM only made around $1.5 billion in revenue last year, its low-power and efficient chips are one of the key parts of the mobile world.
Many analysts were surprised by the move, which was the most expensive buy for a European tech company ever. Many thought that SoftBank had lost its marbles with the deal as it had very little to do with that part of the tech industry.