The acquisition of Alphawave IP Group plc by NASDAQ-listed Qualcomm Incorporated for around £1.8 billion has completed.
The firms agreed the deal in June. The addition of Alphawave Semi, which is headquartered in London and Toronto, is part of tech giant Qualcomm’s expansion into data centres.
Alphawave Semi is a global leader in 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.
Its products form a part of the core infrastructure enabling services in high growth applications like data centres, AI, data networking and data storage.
Tony Pialis (pictured), CEO and co-founder of Alphawave Semi, will lead the Qualcomm data centre business.
“Joining Qualcomm marks an exciting new chapter for Alphawave Semi,” Pialis said. “We’re ready to bring our leadership in high-speed connectivity and custom silicon to help shape the future of data centre innovation.”
The deal marks another blow to the London Stock Exchange, as it sees Alphawave leave the market after four years.
The firm listed in London in May 2021 after selling £856 million of shares in an IPO, which valued it at £3.1bn.
Cristiano Amon, president and CEO of Qualcomm, added: “Alphawave Semi’s expertise in high-speed connectivity technologies complements our Qualcomm Oryon CPU and Hexagon NPU processors.
“Qualcomm delivers high-performance, energy-efficient compute and AI solutions, and the addition of Alphawave’s technologies will strengthen our platforms and optimise performance for next-generation AI data centres.”
Alphawave has a market cap of £1.47bn.
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