IN BRIEF: Qualcomm completes USD2.4 billion purchase of Alphawave IP

Qualcomm Inc - San Diego, California-based communications technology company - Completes acquisition of Leeds, England-based high-speed connectivity solutions firm Alphawave IP Group PLC. Qualcomm says the acquisition aims to accelerate and provide key assets for its expansion into data centres. Alphawave Chief Executive Officer Tony Pialis will lead the Qualcomm data centre business. Qualcomm says the acquisition has closed around three months ahead of schedule. Shares in Alphawave were suspended from the London Stock Exchange on Thursday. Qualcomm agreed to buy Alphawave for USD2.4 billion in June.

"Qualcomm delivers high-performance, energy-efficient compute and AI solutions, and the addition of Alphawave's technologies will strengthen our platforms and optimise performance for next-generation AI data centres," says Qualcomm CEO Cristiano Amon.

Current stock price: USD175.43, up 1.8% on Thursday morning in New York

12-month change: up 15%

By Michael Hennessey, Alliance News reporter

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