Qualcomm agrees €2.1bn deal for semiconductor firm Alphawave

The company makes high-speed semiconductor and connectivity technology that can be used for data centres and AI applications

Qualcomm has agreed to buy London-listed semiconductor company Alphawave IP Group Plc for about $2.4bn (€2.1bn) to expand its technology for artificial intelligence. 

Qualcomm has agreed to buy London-listed semiconductor company Alphawave IP Group Plc for about $2.4bn (€2.1bn) to expand its technology for artificial intelligence.

The offer equates to about 183p per share for Alphawave, Qualcomm said in a statement on Monday. Alphawave shareholders can also opt to exchange their stock for 0.01662 shares of Qualcomm. The Alphawave board has unanimously recommended the deal.