<ul><li>Qualcomm has agreed to acquire London-listed Alphawave IP Group in a $2.4 billion all-cash deal to expand its presence beyond smartphones.</li><li>The acquisition is aimed at diversifying Qualcomm's business into data centers and leveraging Alphawave's connectivity and compute technologies.</li><li>Alphawave's board has recommended the offer, which represents a 96% premium on the last day's share price before talks were disclosed.</li><li>Investors holding 75% of shares need to vote in favor for the deal to proceed, while Alphawave has seen a rise in its share price post-announcement.</li></ul>

Qualcomm In $2.4bn Offer For London-Listed Chip Firm Alphawave

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