04:53 AM EDT, 06/09/2025 (MT Newswires) -- Qualcomm ( QCOM ) has agreed to acquire Alphawave IP Group for 1.83 British pounds ($2.48) per share in cash in a deal valuing the UK semiconductor company at about $2.4 billion, the companies said Monday.

Alphawave said its board considers the terms of the offer to be fair and reasonable and plans to unanimously recommend it to its shareholders.

The companies expect the deal to complete in Q1.