Alphawave Ditches WiseWave Before Embracing Qualcomm Bid. But Why?

and why was Alphawave invested in WiseWave in the first place?

Qualcomm’s recently rumoured desire to acquire UK-listed but Toronto headquartered Alphawave finally came to fruition on June 9, details here.

Qualcomm Incorporated (NASDAQ: QCOM) today announced that it has reached an agreement with Alphawave IP Group plc (AWE.L) (“Alphawave Semi”) regarding the terms and conditions of a recommended acquisition by Aqua Acquisition Sub LLC, an indirect wholly-owned subsidiary of Qualcomm Incorporated, for the entire issued and to be issued ordinary share capital of Alphawave Semi at an implied enterprise value of approximately US$2.4 billion.

Just two days earlier, on June 7, Alphawave announced that the company had disposed on its interest in WiseWave Technology, details here.

LONDON (United Kingdom) and TORONTO (Ontario, Canada) - Further to its previously-stated intention to dispose of its interest in WiseWave, as disclosed in Alphawave's Interim Results for the six months ended 30 June 2024, Alphawave is pleased to confirm that on 7 June 2025, it completed the disposal of the entirety of its interest in WiseWave to its existing shareholders, Wise Road Huazhi (Zhuhai) Equity Investment Partnership (Limited Partnership), Wise Road Zhiguang (Zhuhai) Equity Investment Partnership (Limited Partnership), Zhuhai Wise Road Huajin Zhiying Investment Partnership (Limited Partnership), Wise Road Zhibo (Zhuhai) Equity Investment Partnership (Limited Partnership), and Zhuhai Wise Road Huajin Zhisheng Investment Partnership (Limited Partnership).

Interesting timing, but who or what exactly is WiseWave and what was their connection to Alphawave? Let’s dig in…