NASDAQ-listed Qualcomm Incorporated has reached an agreement to acquire Alphawave IP Group plc for approximately £1.8 billion. The acquisition of Alphawave Semi, which has headquarters in London and Toronto, is intended to accelerate Qualcomm’s expansion into the data centre market.
Alphawave Semi is a global leader in high-speed wired connectivity and compute technologies, providing IP, custom silicon, connectivity products, and chiplets crucial for faster, more reliable data transfer in high-growth applications such as data centres and AI.
The deal will see Alphawave IP delist from the London Stock Exchange after four years. The firm initially listed in London in May 2021 with an IPO valuing it at £3.1 billion.
Cristiano Amon, President and CEO of Qualcomm Incorporated, said: “Under Tony Pialis’ leadership Alphawave Semi has developed leading high-speed wired connectivity and compute technologies that are complementary to our power-efficient CPU and NPU cores. 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.”
Tony Pialis, President and CEO of Alphawave Semi, added: “Qualcomm’s acquisition of Alphawave Semi represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers. By combining our resources and expertise, we will be well-positioned to expand our product offerings, reach a broader customer base, and enhance our technological capabilities.”
The acquisition is expected to be completed during the first calendar quarter of 2026, subject to customary closing conditions. Alphawave’s share price has seen a notable increase since the announcement, rising from 148.7 pence on Friday 6th June to 185.1 pence by midday on Monday 9th June.
Image source: LinkedIn (Tony Pialis)
