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Alphawave IP Group PLC on Friday said it has received all regulatory clearances for its $210 million acquisition of OpenFive.
This includes approval from the committee on Foreign Investment in the US.
Back in March, the London-based connectivity technology provider said it had bought OpenFive from SiFive Inc for $210 million in cash.
Milpitas, California-based OpenFive is a solution-centric and processor agnostic custom silicon business. It has been working with Alphawave for over a decade.
Alphawave now expects the transaction to close in September, once all customary closing conditions are met.
Shares in Alphawave were up 3.2% to 126.98 pence each in London on Friday morning.
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