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Qualcomm Agrees $2.4 Billion Deal to Acquire UK Chip Designer Alphawave

The purchase gives Qualcomm Alphawave’s high-speed connectivity technology to bolster its AI-driven data center solutions.

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Alphawave, which designs semiconductor tech for data centres, networking and storage, is a strategic buy for U.S. chipmaker Qualcomm.
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Overview

  • Alphawave shareholders will receive 183 pence per share in cash, valuing the deal at $2.4 billion and offering a near 96 percent premium to the stock price before takeover talks.
  • The acquisition, endorsed by Alphawave’s board, requires sign-off from shareholders and regulators in the US, UK, Germany, South Korea and Canada and is slated to close in the first quarter of 2026.
  • Qualcomm intends to integrate Alphawave’s high-speed wired connectivity and compute IP into its AI data center roadmap alongside its Oryon CPUs and Hexagon NPUs.
  • On announcement day, Alphawave finalized the sale of its stake in the WiseWave Chinese joint venture, a step seen as removing a potential barrier to closing the deal.
  • The transaction highlights a broader pattern of US chipmakers acquiring undervalued UK tech firms and will lead to Alphawave’s delisting from the London Stock Exchange.