Alphawave IP Group plc (“Alphawave” or “Company”) (LN:AWE), a global leader in high-speed connectivity for the world’s technology infrastructure is pleased to announce that it has completed the acquisition of OpenFive.
Tony Pialis, President and Chief Executive Officer of Alphawave said: “Today represents an important milestone for Alphawave. This acquisition accelerates our ambition to become a leading pure-play provider of connectivity technology, covering silicon IP and custom silicon solutions like chiplets. We are delighted to welcome the talented team from OpenFive, as well as their customers and partners. The combination adds scale and expands our expertise into custom silicon. The combined company is well positioned to capitalise on the growth opportunities we see in the digital infrastructure markets, and we are really excited about the long term prospects for growth.”
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John Lofton Holt, Executive Chairman of Alphawave said: “We are delighted to welcome the OpenFive team to Alphawave and I would like to thank both teams for their efforts in getting us to the successful completion of the transaction having now received all regulatory approvals, including CIFIUS. We are looking forward to working together to capitalise on the significant growth opportunities ahead.”
Key highlights
Alphawave has completed the acquisition of OpenFive bringing OpenFive’s high-speed connectivity system-on-chip (SoC) IP portfolio and a proven team based in India and Silicon Valley, and other global locations, that has been delivering custom silicon solutions for over 15 years. The acquisition significantly increases Alphawave’s customer base globally from 281 currently to over 80, especially in North America, including a top two semiconductor memory supplier, a top three high performance computing (HPC) server manufacturer, a leading automated tester equipment manufacturer, and mission critical high-speed communications and industrial equipment manufacturers.
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