Qualcomm Inc. has agreed to buy London-listed semiconductor company Alphawave IP Group Plc for about $2.4 billion in cash to expand its technology for artificial intelligence.
The offer equates to about 183 pence per share for Alphawave, Qualcomm said in a statement on Monday. Alphawave shareholders can also opt to exchange their stock for 0.01662 shares of Qualcomm. The Alphawave board has unanimously recommended the deal.
The company makes high-speed semiconductor and connectivity technology that can be used for data centers and AI applications, two growth areas in the chip industry that are being driven by demand for products like OpenAI’s ChatGPT. Alphawave, which held an initial public offering in 2021 at 410 pence per share, has consistently traded below that level.
Qualcomm had initially said it was considering an offer in April and the companies have been in talks since then.
Alphawave shares rose 2.9 per cent to close at 149.20 pence on Friday. The shares had closed at 93.50 pence on March 31, the day before Qualcomm and Alphawave disclosed their talks.
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Published on June 9, 2025
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
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- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
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