Qualcomm has acquired Alphawave Semi, a U.K.-based semiconductor company focused on high-speed data center connectivity, for around $2.4 billion.
British semiconductor company Alphawave IP Group on Tuesday said the UK takeover panel has extended the deadline for a takeover offer by U.S. chipmaker Qualcomm to May 12.
British semiconductor company Alphawave IP Group said on Thursday that it was unable to provide a financial forecast for 2025 or beyond due to the uncertainty stemming from the "rapidly developing nature" of U.S. tariffs.
Chipmaker Qualcomm said on Tuesday it is considering making an offer to acquire UK-based Alphawave IP Group.
Alphawave IP is transitioning to a semiconductor product company, aiming to capitalize on AI-driven data center demand and boost silicon revenue significantly. Despite a strong start in 2025, the company's long-term stock performance has been poor, with significant losses and no dividends. Revenue growth has been inconsistent, with a notable decline expected in 2024, and the company has faced substantial net losses.
Alphawave IP Group plc is a small-cap semiconductor company specializing in high-speed connectivity and compute silicon, with a focus on AI, 5G, and data centers. Despite recent financial challenges, including a $12 million adjusted EBITDA loss, Alphawave has secured $225 million in new orders and a substantial backlog. The company aims for a $1 billion revenue run rate by 2027, driven by high-margin custom silicon projects and strategic partnerships with TSMC, Samsung, and Intel.
Alphawave Semi surprised investors this morning when the semiconductor company released interim earnings results that sent its London-traded shares tumbling by as much as 43% before paring the losses to finish the day down by 14%.