Qualcomm has secured the final regulatory approvals needed to close its $2.4 billion acquisition of Alphawave IP Group, a deal that expands the chipmaker’s portfolio in high‑speed connectivity and AI infrastructure. The U.S. antitrust waiting period expired on October 22, 2025, the Canadian competition review concluded on November 14, and Germany’s Federal Cartel Office confirmed on November 24 that the transaction does not breach competition rules. The only remaining hurdle is South Korean merger control, which Qualcomm expects to obtain or waive before the December 18 closing date.
Alphawave’s core technology—SerDes and chiplet IP that enables ultra‑high‑speed data transfer—complements Qualcomm’s Oryon CPU and Hexagon NPU cores. By integrating these assets, Qualcomm aims to offer a “compute‑to‑connectivity” stack that positions it to compete more directly with NVIDIA, AMD, and Intel in the data‑center AI market. The acquisition also signals Qualcomm’s broader strategy to diversify beyond its traditional mobile business and accelerate its presence in high‑growth AI and cloud infrastructure.
The deal was announced in June 2025 with Alphawave shareholders receiving 183 pence per share, a 96 % premium over the March 31 closing price. The premium reflects Qualcomm’s willingness to pay for IP that accelerates its AI platform monetization and strengthens its data‑center offerings. Alphawave, founded in Toronto and listed on the London Stock Exchange, has built a reputation for high‑performance interconnect solutions that are increasingly critical for AI workloads.
Alphawave’s CEO Tony Pialis said the acquisition is a “significant milestone” that will unlock new growth opportunities and enhance technological capabilities. Qualcomm’s CEO Cristiano Amon highlighted that Alphawave’s technologies are “complementary to our power‑efficient CPU and NPU cores” and that the combined teams will build advanced solutions for next‑level connected computing performance across a wide array of high‑growth areas.
Following the announcement, Alphawave shares surged between 23 % and 46 % as investors priced in the premium and the strategic fit. Qualcomm’s shares moved modestly, rising around 4 % or remaining flat in pre‑market trading, reflecting a cautious but positive reception to the regulatory progress and the potential upside of the expanded AI portfolio.
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