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.

Deal Terms Locked In

Qualcomm, which trades on the Nasdaq, agreed in June to acquire Alphawave for $2.4 billion, offering shareholders $2.48 per share in cash. The takeover hands Qualcomm a deeper foothold in high-speed connectivity and semiconductor intellectual property, as demand for data-hungry technologies accelerates.

Advisers on Both Sides

Paul Weiss Rifkind Wharton & Garrison LLP advised Qualcomm on the transaction, while Linklaters LLP represented Alphawave through the process.

With the court’s blessing secured and the market exit underway, the Qualcomm $2.4B Alphawave IP Acquisition closes a chapter in London and opens another in Silicon Valley — a reminder that in the chip race, consolidation can move as swiftly as electrons.