Chipmaker Qualcomm (QCOM) has now secured all of the regulatory clearances needed to complete its $2.4 billion purchase of Alphawave IP Group after getting the green light from authorities in South Korea.
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The Korean Fair Trade Commission approved the deal following notification, Alphawave said.
Critical New Technology
The Alphawave acquisition, first announced in June, provides Qualcomm with critical high-speed wired connectivity and chiplet technologies—key components for scaling AI infrastructure. These advancements position Qualcomm to compete more directly with industry heavyweights like Intel (INTC) and AMD (AMD) in the rapidly evolving data center and AI computing markets.
The companies expect to complete the transaction in December.
The acquisition has already cleared several regulatory hurdles, including approvals from the UK government, the U.S., Germany, and Canada.
Qualcomm aims to generate $22 billion in non-handset revenue by fiscal year 2029—a sharp increase from the $8.3 billion recorded last year. This target implies a compound annual growth rate (CAGR) of over 20%, highlighting the company’s intention to diversify beyond its core mobile business.
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