Qualcomm Inc. Has reacted a deal to acquire uk-listed semiconductor firm alphavave IP Group Plc For Approximately $ 2.4 Billion in Cash, Aiming to Strengthen Its Artificial Intelligence Capabitalies Capabitalies.
According to Qualcomm’s statement on Monday, The offer Values Alphaave at Around 183 Pense per share. As an alternative, alphaweve sharehlders can choose to receive 0.01662 Qualcomm shares for each alphaveve share they hold. The board of alphawave has unanimously endorsed the acquisition.
Alphavee Specializes in High-Speed Semiconductor and Connectivity Solutions used in data centers and ai systems –key growth segments in the chip market fuled by Increasing Demand from Ai tools like Openai’s chatgpt. Despite Its 2021 IPO price of 410 penc per share, alphawave has consistently tradeed below that level.
Qualcomm Had first expressed interest in April, and discusations between the two firms have been ongoing since. Alphaveve’s stock rose 2.9% to 149.20 pence last friday, up from 93.50 pence on March 31, just before news of the talks became public.
(With inputs from bloomberg)
Disclaimer: This story is for educational purposes only. The views and recommendations about individual analysts or broking companies, not mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.