Chip design firm ARM has been delisted from the London Stock Exchange after completion of the £24.3bn takeover by Japan's SoftBank.
The completion of the purchase became a formality when ARM's shareholders voted 95 per cent in favour of the deal at the end of August.
ARM shareholders as of 6pm on 2 September will receive £17 in cash per share. ARM shares on the US Nasdaq will be delisted on 12 September.
The completion of the deal meant the resignations of several ARM directors, including chairman Stuart Chambers. Current CEO Simon Segars will stay on.
A joint statement by Segars and SoftBank CEO Masayoshi Son described the completion of the deal as a "historic day".
"We have brought together two companies with a shared vision and ambition, driven to empower the world with technology that makes life easier, safer and more fulfilling. Now that ARM is part of the SoftBank Group, the vision and mission we share will not change; it is business as usual - only better," the executives said.
"We believe that technology should advance for the benefit of humanity. Put another way, we believe that by harnessing the true potential of what SoftBank calls the ‘information revolution', we can contribute to people's happiness and joy, and to the future of the world. This is perhaps a bold proposition, but one that cuts right to the core of what technology can deliver."
The statement promises that the firms will continue to expand ARM's technology through a greater focus on research and development across processor designs, systems and software, physical IP, security, wireless and smart connected platforms.
"ARM, as a member of the SoftBank Group, will remain an advanced engineering company that attracts and retains people who are passionate about developing technology that invisibly enables opportunity for a globally-connected population," the statement said.
However, the ARM assets acquired by SoftBank with borrowed money will need to be sweated to make sure that the deal pays off financially.
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