Latest news with #TonyPialis
GSM Arena
6 hours ago
- Business
- GSM Arena
Qualcomm to acquire chip designer Alphawave Semi for $2.4B
Qualcomm announced it has reached an agreement to acquire British chip design firm Alphawave Semi in a deal that's reportedly valued at $2.4 billion. The deal will play a key role in Qualcomm's growth across the data center market while complementing its Oryon mobile CPU and Hexagon NPU development. Alphawave also holds key IP across custom silicon chips, AI and connectivity products. It also has 'industry-leading high-speed connectivity solutions' for autonomous vehicles and solid-state storage. Qualcomm's acquisition of Alphawave Semi represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers. By combining our resources and expertise, we will be well-positioned to expand our product offerings, reach a broader customer base, and enhance our technological capabilities. Together, we will unlock new opportunities for growth, drive innovation, and create a leading player in AI compute and connectivity solutions. - Tony Pialis, president and CEO of Alphawave Semi Alphawave was founded in 2017. As of 2023, it had over 829 employees and is forecast to reach an addressable market of $39 billion by 2027. The Qualcomm acquisition deal will now have to pass UK regulator approval and if all goes well, it should be completed in Q1, 2026. Source
Leader Live
8 hours ago
- Business
- Leader Live
Alphawave agrees £1.8bn takeover by America's Qualcomm
Qualcomm is offering to pay 183p per share in cash for London-listed Alphawave, which is a near-96% premium to its closing price before the takeover interest was revealed. But Qualcomm has also put forward an alternative share offer to Alphawave investors, which would see them receive Qualcomm stock instead of cash. The £1.8 billion price is less than half the £3.1 billion value at which Toronto-headquartered Alphawave floated when it listed just over four years ago. It also sees the London market lose yet another listing after a recent flurry of firms defecting from the City for rival exchanges overseas and a number of firms being bought out. Tony Pialis, president and chief executive of Alphawave, said: 'Qualcomm's acquisition of Alphawave represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers. 'Together, we will unlock new opportunities for growth, drive innovation, and create a leading player in artificial intelligence (AI) compute and connectivity solutions.' For Qualcomm, the acquisition is seen boosting its capabilities in AI infrastructure by expanding its intellectual property portfolio in data centre and 5G networking. As well as data centres, Alphawave technology is used in 5G infrastructure and autonomous vehicles. Cristiano Amon, president and chief executive of Qualcomm, said: 'The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high-growth areas, including data centre infrastructure.' The deal is expected to complete in the first three months of 2026. Alphawave, which listed in London in May 2021, has around 830 employees across operations in Canada, the UK, Europe and Korea.
South Wales Guardian
8 hours ago
- Business
- South Wales Guardian
Alphawave agrees £1.8bn takeover by America's Qualcomm
Qualcomm is offering to pay 183p per share in cash for London-listed Alphawave, which is a near-96% premium to its closing price before the takeover interest was revealed. But Qualcomm has also put forward an alternative share offer to Alphawave investors, which would see them receive Qualcomm stock instead of cash. The £1.8 billion price is less than half the £3.1 billion value at which Toronto-headquartered Alphawave floated when it listed just over four years ago. It also sees the London market lose yet another listing after a recent flurry of firms defecting from the City for rival exchanges overseas and a number of firms being bought out. Tony Pialis, president and chief executive of Alphawave, said: 'Qualcomm's acquisition of Alphawave represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers. 'Together, we will unlock new opportunities for growth, drive innovation, and create a leading player in artificial intelligence (AI) compute and connectivity solutions.' For Qualcomm, the acquisition is seen boosting its capabilities in AI infrastructure by expanding its intellectual property portfolio in data centre and 5G networking. As well as data centres, Alphawave technology is used in 5G infrastructure and autonomous vehicles. Cristiano Amon, president and chief executive of Qualcomm, said: 'The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high-growth areas, including data centre infrastructure.' The deal is expected to complete in the first three months of 2026. Alphawave, which listed in London in May 2021, has around 830 employees across operations in Canada, the UK, Europe and Korea.
Euronews
10 hours ago
- Business
- Euronews
Chip designer Alphawave sees stock soar on Qualcomm takeover agreement
Shares in chip designer Alphawave rose sharply on Monday after the British-Canadian firm agreed to be acquired by US rival Qualcomm for around $2.4bn (€2.1bn) in cash. As of around 9.45am London time, Alphawave's stock had risen around 23% in daily trading on the LSE. Qualcomm's offer values each share at 183p, a 96% premium on the closing price seen on 31 March, the final day before Qualcomm and Alphawave announced they were holding discussions. The $2.4bn valuation is still half of the total worth attributed to Alphawave when it launched an IPO in 2021. At its stock market debut, Alphawave shares were worth 410p each and the group was valued at £3.1bn (€2.7bn), although the firm has generally traded well below this level since its IPO. The deal is expected to close in the first three months of 2026, subject to shareholder and regulatory approval. Alphawave designs semiconductor technology for data centres and AI applications, thus providing Qualcomm with an opportunity to diversify away from smartphone components. 'Qualcomm's acquisition of Alphawave Semi represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers,' said Tony Pialis, CEO of Alphawave Semi. 'By combining our resources and expertise, we will be well-positioned to expand our product offerings, reach a broader customer base, and enhance our technological capabilities,' he added. Cristiano Amon, CEO of Qualcomm, commented on the deal: 'The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high growth areas, including data center infrastructure.' Alphawave said its directors would unanimously advise shareholders to vote in favour of the takeover. For the deal to go ahead, it would require a green light from investors representing 75% of shares. The takeover raises concerns about the attractiveness of listing in the UK, particularly after other high-profile departures from the LSE. Food-delivery service Deliveroo and cybersecurity and AI firm Darktrace have both agreed to be acquired by US firms. The fintech Wise also announced last week that it would be moving its primary listing to the US. China's exports rose 4.8% in May from a year earlier, according to data released on Monday just hours ahead of another round of trade talks between the US and China. The total was a bit lower than expected, as shipments to the United States fell 34.5% in the same time period. Imports declined 3.4% year-on-year, leaving a trade surplus of $103.2bn (€90.33bn). China exported $28.8bn to the United States in May (compared to $44 billion last year), while its imports from the US fell 7.4% to $10.8bn, the report said. Still, exports to Southeast Asia and the European Union remained robust, growing 14.8% and 12% year-on-year. 'The acceleration of exports to other economies has helped China's exports remain relatively buoyant in the face of the trade war,' Lynne Song of ING Economics said in a commentary. Still, trade slowed in May from an 8.1% jump in China's global exports in April. Many businesses had rushed orders to try to beat higher tariffs, even as some new import duties took effect or remained in place. Exports will likely rebound somewhat in June thanks to a 90-day suspension of most of the tariffs China and the US imposed on each other in their escalating trade war. 'But with tariffs likely to remain elevated and Chinese manufacturers facing broader constraints on their ability to sustain rapid gains in global market share, we think export growth will slow further by year-end,' Zichun Huang of Capital Economics said in a report. Despite the tariffs truce, the rancour between Beijing and Washington has persisted, with angry exchanges over advanced semiconductors, 'rare earths' that are vital to many industries, and visas for Chinese students at American universities. The next round of negotiations is due to take place on Monday in London, following a phone call last week between Trump and Chinese leader Xi Jinping. Other figures released on Monday highlight how slowing exports are impacting the world's second largest economy, since China imports many of the components and materials needed for the goods it assembles for the world. At the same time, China's own domestic markets are suffering. The government reported that consumer prices fell 0.1% in May, pointing to sluggish demand. The persisting deflation partly reflects lower food prices, economists said. Producer price deflation was worse, contracting 3.3% in May, its lowest level in almost two years, after falling 2.7% in April.
Glasgow Times
10 hours ago
- Business
- Glasgow Times
Alphawave agrees £1.8bn takeover by America's Qualcomm
Qualcomm is offering to pay 183p per share in cash for London-listed Alphawave, which is a near-96% premium to its closing price before the takeover interest was revealed. But Qualcomm has also put forward an alternative share offer to Alphawave investors, which would see them receive Qualcomm stock instead of cash. The £1.8 billion price is less than half the £3.1 billion value at which Toronto-headquartered Alphawave floated when it listed just over four years ago. It also sees the London market lose yet another listing after a recent flurry of firms defecting from the City for rival exchanges overseas and a number of firms being bought out. Tony Pialis, president and chief executive of Alphawave, said: 'Qualcomm's acquisition of Alphawave represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers. 'Together, we will unlock new opportunities for growth, drive innovation, and create a leading player in artificial intelligence (AI) compute and connectivity solutions.' For Qualcomm, the acquisition is seen boosting its capabilities in AI infrastructure by expanding its intellectual property portfolio in data centre and 5G networking. As well as data centres, Alphawave technology is used in 5G infrastructure and autonomous vehicles. Cristiano Amon, president and chief executive of Qualcomm, said: 'The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high-growth areas, including data centre infrastructure.' The deal is expected to complete in the first three months of 2026. Alphawave, which listed in London in May 2021, has around 830 employees across operations in Canada, the UK, Europe and Korea.
