Qualcomm has acquired Alphawave Semi, a U.K.-based semiconductor company focused on high-speed data center connectivity, for around $2.4 billion.

The companies announced the transaction today. It doesn’t come as a surprise: Qualcomm first disclosed plans to make a bid for Alphawave in early April. Its offer amounts to £1.83 per share, a 98% premium to the British chip designer’s last unaffected trading price.

As Qualcomm looks to lessen its reliance on the smartphone market, Alphawave would provide it with technology used in data centres.