Japanese telecommunications company Softbank will acquire British ARM Holdings for about 24.3 billion pounds, which is the largest acquisition by a European technology ever.
ARM Holdings chip designs but not making them yourself.
Instead licensed Chippen architecture to manufacturers such as Qualcomm, Apple, Samsung, Huawei and Nvidia.
ARM's chip designs are used in 95% of all smartphones today.
According to Softbank press release, a total of 85 billion system-on-chip based on ARM's technology delivered so far.
Softbank was established in 1981 in Tokyo, Japan and was a year ago, the world's 62nd largest listed companies according to Forbes.