Qualcomm shares advanced over 4% on Monday as the it secured additional time to pursue a potential $1.3 billion acquisition of British semiconductor group Alphawave. The UK’s Panel on Takeovers and Mergers has extended Qualcomm’s deadline to submit a firm offer for Alphawave to May 27, reflecting ongoing negotiations between the two companies. The extension comes after the original April 29 cutoff was first moved to May 12, with both sides agreeing to further talks amid strong investor interest.
The market responded positively to the news, with Qualcomm stock climbing to $151.58 in afternoon trading. Alphawave shares also surged by as much as 8% in London, building on gains that have seen the company’s stock rise more than 50% since the start of the year.
Investors are closely watching the outcome, as a successful deal would likely result in Alphawave being delisted from the London Stock Exchange and integrated into Qualcomm’s Nasdaq-listed operations.
Alphawave, a specialist in high-speed connectivity and “serdes” technology crucial for AI chip development, has been a target of interest for major industry players. The company recently posted a record quarter for bookings revenue, underscoring its strategic value in the global semiconductor ecosystem. Earlier this year, chip design leader Arm also explored a possible takeover but ultimately did not proceed with a formal bid.
Qualcomm’s pursuit of Alphawave comes as the US giant looks to strengthen its position in the AI and data centre markets, especially as demand for advanced chip solutions accelerates worldwide. The company recently beat Wall Street expectations with robust quarterly earnings, though it faces headwinds from softening smartphone chip demand and evolving US-China trade dynamics.
With the new May 27 deadline in place, Qualcomm now has critical extra time to finalise terms or walk away from the deal. Both companies remain engaged in discussions, and the semiconductor industry is watching closely for the next move in what could be one of the sector’s most significant takeovers of 2025.
