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Qualcomm Agrees $2.4 Billion Takeover of UK Chip Designer Alphawave

Qualcomm will integrate Alphawave’s high-speed connectivity technology to drive its AI infrastructure expansion.

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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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Cristiano Amon, chief executive of Qualcomm

Overview

  • Alphawave shareholders will receive 183p per share in cash, valuing the transaction at about $2.4 billion.
  • The agreed price represents a near 96% uplift from the company’s share price before Qualcomm’s bid surfaced.
  • Completion is slated for the first quarter of 2026, contingent on approval from Alphawave investors and regulators in key markets.
  • Qualcomm intends to leverage Alphawave’s connectivity IP to bolster its data center and AI computing offerings.
  • As a precondition for regulatory clearance, Alphawave divested its stake in the WiseWave joint venture with China’s Wise Road Capital.