Acquisitions

9 Months Ended

Jun. 29, 2025

Business Combinations [Abstract]

Business Combination Disclosure

Note 8. Acquisitions

Pending. On June 9, 2025, we announced that we reached an agreement with Alphawave IP Group plc (Alphawave) 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 at an implied enterprise value of approximately $2.4 billion (as of the announcement date). The purchase price will be paid in cash or, if validly elected by eligible shareholders of Alphawave, in shares of our common stock or securities exchangeable for shares of our common stock. Alphawave is a developer of high-speed wired connectivity and compute technologies delivering IP, custom silicon, connectivity products and chiplets. The acquisition aims to further accelerate, and provide key assets for, our expansion into data centers. This acquisition is expected to complete during the first calendar quarter of 2026, subject to certain conditions, including receipt of regulatory approvals and approval from the requisite majority of Alphawave’s shareholders. In connection with the pending acquisition, we agreed to restrict the use of $2.3 billion in cash, which is presented as restricted cash on our condensed consolidated balance sheets, for the purpose of satisfying payment of the consideration to effect the acquisition.

Completed. During the first nine months of fiscal 2025, we acquired seven businesses for a total accounting purchase price of $668 million. These acquisitions were primarily for the purpose of executing on certain products and technology that support our diversification strategy in QCT industrial IoT and automotive. The acquired assets primarily consisted of $120 million of intangible assets and $532 million of goodwill, which was allocated to our QCT segment and which is primarily attributable to assembled workforce and certain synergies expected to arise after the acquisition.