26th Aug 2022 08:28
(Alliance News) - Alphawave IP Group PLC on Friday said it has received all regulatory clearances for its USD210 million acquisition of OpenFive.
This includes approval from the committee on Foreign Investment in the US.
Back in March, the London-based connectivity technology provider said it had bought OpenFive from SiFive Inc for USD210 million in cash.
Milpitas, California-based OpenFive is a solution-centric and processor agnostic custom silicon business. It has been working with Alphawave for over a decade.
Alphawave now expects the transaction to close in September, once all customary closing conditions are met.
Shares in Alphawave were up 3.2% to 126.98 pence each in London on Friday morning.
By Sophie Rose; [email protected]
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