(Alliance News) - Semiconductor company Qualcomm Inc on Tuesday said it is mulling acquiring London-listed Alphawave IP Group PLC.

Shares in high-speed connectivity solutions Alphawave jumped 48% to 138.70 pence each in London on Tuesday afternoon, giving it a market capitalisation of GBP1.05 billion. The stock had spent most of the day higher, before making an even stronger surge on the back of the Qualcomm announcement.

San Diego, California-based Qualcomm noted a recent move in Alphawave shares and confirmed "that it is considering making an offer".

"There can be no certainty that any firm offer will be made, nor as to the terms on which any firm offer might be made," Qualcomm said.

Qualcomm has until the close of play on April 29 to announce whether it plans to make a firm offer for Alphawave.

Reuters reported on Tuesday that Arm Holdings PLC recently looked into buying Alphawave. Reuters, citing three sources with knowledge of the matter, said Alphawave has been working with investment bankers to explore a sale after it received interest from Arm and "other potential acquirers".

Qualcomm, listing in New York, has a market capitalisation of USD169.89 billion. Arm, also New York-listed, is worth USD112.56 billion.

By Eric Cunha, Alliance News news editor

Comments and questions to [email protected]

Copyright 2025 Alliance News Ltd. All Rights Reserved.