Alphawave IP, a firm engaged in the development and licensing of high-performance connectivity intellectual property, agreed to acquire Banias Labs, a manufacturer of semiconductor chips intended for next-generation communications, for $240m. "Banias Labs optical DSP technology provides a strong strategic advantage for Alphawave, strengthening our roadmap of DSP silicon solutions for data centers. This acquisition enhances our portfolio of electrical and optical solutions in the most advanced process technologies. The multi-year purchasing framework includes coherent optical solutions, and with the Banias acquisition, Alphawave is expanding its total addressable market by delivering next generation coherent optical solutions for the most advanced data centers," Tony Pialis, Alphawave President and CEO.