The Qualcomm $2.4B Alphawave IP Acquisition crossed a decisive legal finish line Thursday, as the British semiconductor firm confirmed that a court-backed scheme enabling its takeover by the U.S. chip giant is now in force.
Alphawave IP Group PLC said the High Court of Justice of England and Wales approved the transaction on Wednesday, triggering the final steps of a deal agreed earlier this year. Following delivery of the court order to the Registrar of Companies, trading in Alphawave shares on the London Stock Exchange was halted Thursday morning.
The company said its London listing is expected to be canceled Friday, formally ending Alphawave’s run as a publicly traded UK firm.
Leadership Reset After Deal Completion
With the transaction complete, all members of Alphawave’s senior leadership team and its non-executive directors stepped down, the company said. Kate Turner and Niraj Galaiya were appointed as new directors, effective immediately, to guide the business under new ownership.
