Qualcomm to acquire UK’s Alphawave for $2.4 billion

US chipmaker Qualcomm on Monday agreed to acquire British semiconductor company Alphawave for about $2.4 billion.

Alphawave will receive 183 per share under the deal, a nearly 96% premium to its closing price before Qualcomm disclosed its interest in the company.

Qualcomm has also tabled an alternative share offers for Alphawave’s shareholders.