The Toronto-based chipmaker is seeking a valuation of US$4.5 billion and plans to open a research centre in Cambridge as part of its move to the U.K. Alphawave specializes in technology that is used to send data over wired networks and makes money by licensing its intellectual property to chip manufacturers. (The Logic)

Talking point: Alphawave jumping across the pond comes as the U.K. has been trying to attract more high-growth companies to list in London, including by loosening rules governing SPACs. John Lofton Holt, Alphawave’s chair, told the Financial Times the company chose London because of the U.K.’s chip-technology strength. Among the country’s successes is Arm, which shares a similar business model with Alphawave and was sold to Nvidia for US$40 billion last year. Industry observers in Canada have long warned that the country has failed to commercialize knowledge produced domestically due to foreign firms buying Canadian companies or setting up local subsidiaries.