U.S. chipmaker Qualcomm is considering making an offer to acquire Alphawave IP Group, it said on Tuesday, sending shares of the British semiconductor company surging more than 52%. Alphawave designs and licenses semiconductor technology for data centers,

Qualcomm Inc. said it’s weighing an offer for Alphawave IP Group Plc after the London-listed semiconductor company’s shares declined.

The takeover talk relating to Alphawave highlights an issue that has long dogged the UK tech sector: companies in the country struggle to scale out from the startup phase due to a lack funding, and instead turn to overseas backers and ultimately end up in foreign ownership – as Arm itself did.