Alphawave inks £215m deal for Israeli processing chip developer
Connectivity infrastructure company Alphawave has inked a $240m (£215m) deal for an Israeli processing chip developer, which makes semiconductors powerful enough to help data centres run.
The deal for Bainas Labs strengthens Alphawave’s silicon products in its digital signal processing division, the company said in a statement this morning, as it looks to double down on the “high growth” market.
Bosses hope the acquisition will lift Alphawave’s sales in its digital signal processing division and optical products to over $300m (£270m).
Alphawave CEO and president, Tony Pialis, said the deal will help the London-listed group strengthen its ability to serve data centres – which house most of today’s data – as a growing customer base, as the world increasingly turns digital.
Processing chips, or microchips, lie at the heart of computers and are responsible for a computer being able to carry out tasks.
Executive chairman John Lofton Holt told City A.M. in July that the “work from home movement” has seen infrastructure providers double down on investments over the past two years since the UK’s first lockdown.
Alphawave, which listed on the London Stock Exchange last year in a £3.1bn float, has navigated well through the technology sector’s current woes as it has zero consumer exposure.