Qualcomm has acquired Alphawave Semi, a U.K.-based semiconductor company focused on high-speed data center connectivity, for around $2.4 billion.

Qualcomm plans to acquire Alphawave Semi for $2.4 billion. The chip designer said that it was looking to buy the smaller competitor to accelerate its push into data centers. Alphawave Semi develops high-speed wired connectivity and compute tech, creating IP, custom silicon, connectivity products, and chiplets focused on data transfer.

US semiconductor group Qualcomm has agreed a $2.4bn deal to buy chip designer Alphawave, marking the latest tech company departure from the London market.