According to CNBC, the British Competition and Markets Authority (CMA) announced on Wednesday local time that it plans to review Nvidia’s acquisition of Arm.

The CMA said it is inviting third parties to provide opinions on how the transaction will affect market competition in the UK, and then launch a formal investigation later this year.

"The integrated circuit technology industry is worth billions of dollars and is essential to many of the products we use in our daily lives," CMA chief executive Andrea Coscelli said in a statement.

"We will work closely with other antitrust agencies around the world to carefully consider the impact of this transaction to ensure that it does not end up causing consumers to face more expensive or lower quality products." Coscelli added.