SAN DIEGO (dpa-AFX) - Semiconductor major Qualcomm Inc. (QCOM) announced Monday that it has reached an agreement to acquire Alphawave IP Group plc (AWE.L), also called Alphawave Semi, at an implied enterprise value of approximately $2.4 billion.
Following the news, Alphawave IP shares were jumping around 23.2 percent on the London Stock Exchange at 183.80 pence.
Under the agreed terms and conditions, Aqua Acquisition Sub LLC, an indirect subsidiary of Qualcomm, will make the acquisition.
The deal is expected to complete during the first calendar quarter of 2026, subject to the satisfaction or waiver of certain conditions.
Alphawave Semi offers high-speed wired connectivity and compute technologies delivering IP, custom silicon, connectivity products and chiplets that drive faster, more reliable data transfer with higher performance and lower power consumption.
With the acquisition, Qualcomm aims to further accelerate, and provide key assets for, its expansion into data centers. Qualcomm said its Oryon CPU and Hexagon NPU processors are well positioned to meet the growing demand for high-performance, low-power computing.
Cristiano Amon, president and CEO of Qualcomm, said, 'Qualcomm's advanced custom processors are a natural fit for data center workloads. The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high growth areas, including data center infrastructure.'
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