- The Competition and Markets Authority is planning to investigate the anticipated takeover of Arm by US chip designer NVIDIA.

The regulatory body is inviting input from interested third parties as it gauges the possible impacts this deal could have on competition in the UK.

A formal investigation will start later this year.

In a deal worth $40 billion, NVIDIA is looking to buy the Intellectual Property Group business of UK-based Arm.

Arm develops and licenses intellectual property and software tools for chip designs.

CMA CEO Andrea Coscelli said: 'The chip technology industry is worth billions and critical to many of the products that we use most in our everyday lives.

'We will work closely with other competition authorities around the world to carefully consider the impact of the deal and ensure that it doesn't ultimately result in consumers facing more expensive or lower quality products.'

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