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SoftBank has completed its $32 billion acquisition of ARM

Japanese telecommunications giant SoftBank has announced that its acquisition of U.K. chipmaker ARM Holdings is complete, reports TechCrunch. The acquisition is the largest tech acquisition in the U.K.’s history. The deal closed relatively quickly with SoftBank deciding to purchase the company immediately after the crash of the British pound after the country voted to leave the EU this summer. For now SoftBank plans to operate ARM as an independent company. Demand for its chip expertise is expected to increase as more “internet of things” devices hit the market in the coming years.MG