Predators circle three of Britain's most promising tech firms

By HUGO DUNCAN

Updated: 21:52 BST, 8 June 2025

The future of three of Britain’s most promising tech firms could be decided this week as predators circle the UK stock market.

US semiconductor giant Qualcomm has been given until 5pm today to table a bid for London-based chip designer Alphawave, though the deadline could be extended for a sixth time.

This is followed by a Wednesday cut-off for a bid to be made for analytics and intelligence firm Globaldata and another on Friday regarding Edinburgh-based healthcare tech group Craneware.

They are three of five London-listed tech firms – with a combined value of more than £5billion – being targeted as suitors race to snap them up and cash in on their success.

Takeovers would see them leave the London Stock Exchange at a time when the City is reeling from an exodus of companies and a dearth of new stock market listings.

Payments giant Wise last week announced plans to shift its primary listing from London to New York just hours after metals investor Cobalt Holdings abandoned plans to float.

Looking to the future: Officials at No 10 and the Treasury have held crisis talks with leading City figures in a bid to find ways to revive the flagging stock market

Wise joins a growing list of firms to swap the City for Wall Street including Paddy Power owner Flutter, building materials firm CRH and equipment hire group Ashtead.

Garry White, chief investment commentator at wealth manager Charles Stanley, said: ‘For many, the bright lights of Wall Street will be forever attractive. London should expect more losses such as this.’

While the futures of Alphawave, Globaldata and Craneware could be decided in the coming days, US payments giant Corpay is circling UK fintech Alpha Group with a deal possible by early July.

And Northern Ireland software group FD Technologies has already accepted a £570m offer from Boston-based private equity giant TA Associates. The deal now requires the approval of regulators and shareholders.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said a fresh round of takeovers would be ‘another blow’ to London.

She added: ‘The direction of travel isn’t surprising given the investment environment.

‘It’s clear the UK is a hub for innovation and entrepreneurship, and it can incubate firms during the early days.

‘But the lack of access to easy capital, and the fragmented nature of government support for scale-ups has made the environment more difficult.’

Officials at No 10 and the Treasury have held crisis talks with leading City figures in a bid to find ways to revive the flagging stock market.

It comes as the UK struggles to recovery from a body blow when Cambridge-based chip designer Arm chose to list in New York rather than London in 2023. The business is now worth £100billion.

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Predators circle three of Britain’s most promising tech firms

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Predators circle three of Britain’s most promising tech firms