Back in July, Japanese telecommunications giant SoftBank announced that they would be purchasing chipmaker ARM for the price of a cool $32 billion. As of this week, that sale is now officially complete. ARM belongs to SoftBank.

It’s worth noting that this is the largest acquisition of a European technology company to ever be executed. As a result of this change of hands, ARM is now no longer listed on the London Stock Exchange. In spite of what feels like sweeping changes on the surface, SoftBank says that they have no intention of interfering with the chipmaker’s business. ARM will operate as a stand-alone entity and will continue to license its technology to the likes of Samsung and Apple.

Another thing to observe is that this was a relatively fast transaction for such a large purchase. Some believe that SoftBank may have been capitalizing on the weakness of the pound in the aftermath of Brexit. The Japanese corporation has denied these claims.

What does the future have in store for ARM? SoftBank CEO Masayoshi Son wants to position the company in such a way that they become a cornerstone of the nascent Internet of Things market. The company is already producing billions of chips for IoT devices, and Masayoshi Son wants to expand on this area of business.

What do you think of SoftBank’s acquisition of ARM? Is this good news or bad news for the popular chipmaker? Let us know your take in the comments below!