Arm: Arm Reportedly Sought to Acquire Alphawave for AI Chip Tech

SoftBank-owned chip tech provider Arm Holdings plc (NasdaqGS:ARM) recently sought to acquire Alphawave IP Group plc (LSE:AWE), a UK-based supplier of semiconductor intellectual property, to secure a crucial technology that is crucial for building its own artificial-intelligence processors, according to three sources familiar with the matter. Alphawave, which has a market value of GBP 707.1 million ($913.36 million), has been working with its investment bankers to explore a sale after receiving acquisition interest from Arm and other potential acquirers, one of the sources told Reuters. Arm, however, has decided not to pursue a takeover of Alphawave after its initial discussions with the company, two of the sources said. SoftBank-owned chip tech provider Arm Holdings plc (NasdaqGS:ARM) recently sought to acquire Alphawave IP Group plc (LSE:AWE), a UK-based supplier of semiconductor intellectual property, to secure a crucial technology that is crucial for building its own artificial-intelligence processors, according to three sources familiar with the matter. Alphawave, which has a market value of GBP 707.1 million ($913.36 million), has been working with its investment bankers to explore a sale after receiving acquisition interest from Arm and other potential acquirers, one of the sources told Reuters. Arm, however, has decided not to pursue a takeover of Alphawave after its initial discussions with the company, two of the sources said.