Qualcomm to acquire Alphawave Semi in $2.4B transaction

Qualcomm (QCOM) announced that it has reached an agreement with Alphawave IP Group regarding the terms and conditions of a recommended acquisition by Aqua Acquisition, an indirect wholly-owned subsidiary of Qualcomm Incorporated, for the entire issued and to be issued ordinary share capital of Alphawave Semi at an implied enterprise value of approximately $2.4B. This acquisition of Alphawave Semi is expected to complete during the first calendar quarter of 2026, subject to the satisfaction or waiver of certain conditions as set forth in the announcement released in accordance with Rule 2.7 of the UK Takeover Code, including certain regulatory approvals, the approval from the requisite majority of Alphawave Semi’s shareholders and sanction by the High Court in the UK.