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(Pocket-lint) – Nvidia has reportedly halted all efforts to acquire Arm for over $40bn after a year and a half of trying amid intense regulatory scrutiny.

According to three anonymous sources who spoke with the financial times , the deal, first announced in September 2020, fell through and is no longer on the table. That means Nvidia will likely have to spend up to $1.25 billion on Arm’s owner SoftBank for not completing the deal.

Arm CEO Simon Segars will also lose his job now, according to the report.

The deal would have given graphics giant Nvidia full control of the legendary chip designer, a British company whose architecture and intellectual property are crucial to most phones and tablets ever made, as well as server chips and even the hardware of computers. MacBook). Pocket-lint has reached out to Nvidia for comment and to confirm the status of the deal.

Two weeks ago, Bloomberg it also reported that the deal may not go through as regulators in the UK, Europe and the US were nervous about Nvidia’s ownership of Arm.

The Federal Trade Commission has also to follow up to stop the acquisition.

Arm, based in Cambridge, UK, has grown from the days of its Advanced RISC Machine processor inside the BBC and Acorn machines of the 1980s to become one of the world’s largest technology companies. After becoming a public company, it is now majority owned by Japan’s SoftBank.