Alphawave completes its RISC-V, chiplet acquisition of OpenFive
Alphawave IP has completed the $210m acquisition of developer OpenFive to boost its IP in chiplets, RISC-V and designs in the latest 3nm process technology. The last regulatory approvals were received earlier in the week.
OpenFive was the open design unit of RISC-V pioneer SiFive and has a range of high-speed connectivity system-on-chip (SoC) IP. It has a proven team based in India and Silicon Valley, and other global locations, that has been delivering custom silicon solutions for over 15 years. It is also developing custom designs using the RISC-V open instruction set architecture that is increasingly used in AI accelerator chiplets.
The acquisition significantly increases Alphawave’s customer base globally from 28 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.
The company moved to the UK from Canada in 2021 for its listing on the London Stock Exchange.
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The acquisition nearly doubles the number of connectivity-focused IPs available to Alphawave customers from 80 to over 155 and will provide customers with a one-stop-shop for their bundled connectivity needs in the most advanced technologies at 5nm, 4nm, 3nm and beyond. This will include an expanded die-to-die connectivity portfolio that will accelerate chiplet delivery capabilities to existing and new customers.
“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,” said Tony Pialis, President and Chief Executive Officer of Alphawave. “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.”
OpenFive’s IP enables Alphawave to offer leading edge data centre and networking custom silicon solutions as well as enhancing its chiplet design capabilities and scale revenues by monetising its leading connectivity IP not only through IP licensing but advanced custom silicon design and delivery.
The revenue for the combined group in 2023 is anticipated to reach between US$325m to US$360m with a path to a yearly revenue run rate of over US$500m in 2024.
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