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U.K.-based chip designer to be delisted on Tuesday.
Softbank on Monday completed its £24 billion (€28.8 billion) acquisition of mobile chip designer ARM.
"The entire issued and to-be-issued share capital of ARM is now owned by SBG (Softbank Group) and its wholly-owned subsidiaries," said the Japan-based telco, in a statement.
Softbank said the U.K.-based company will be delisted from the London Stock Exchange on Tuesday morning, and that ARM’s financial results will now be consolidated into Softbank’s.
In a separate statement, ARM said its chairman Stuart Chambers, and six further board members, have tendered their resignations.
The completion comes after the High Court of England and Wales on Friday approved the transaction.
Softbank agreed to acquire ARM in July. The deal is being partially funded by debt provided under a ¥1 trillion (€8.6 billion) facility from Mizuoh Bank. The balance is being funded by Softbank’s existing cash resources.
ARM licenses its semiconductor designs for other companies to manufacture for use in various devices. ARM’s biggest market is mobile, where ARM-designed processors can be found in Apple’s iPhones and iPads, as well as numerous products running on Android.
ARM designs are also used in home entertainment products and gadgets such as Blu-ray players and digital cameras, as well as in devices like smart meters, connected cars, and even some servers.
