ACE Convergence Acquisition Corp. and Tempo Automation, Inc. Announce Closing of Business Combination; Tempo Automation Holdings, Inc. to Trade on Nasdaq Under Ticker Symbols "TMPO" and “TMPOW”

Please check our press release for details

Our Company

ACE Convergence Acquisition Corp. is a $230 million special purpose acquisition company whose business mandate is to identify and acquire an emerging leader in the IT infrastructure software/systems and system-on-a-chip (“SoC”) markets that is well positioned to capture significant value as the current industrial enterprise environment is digitally transformed with the confluence of cloud, AI and 5G.

We believe the addressable number of high-quality private small- to mid-cap IT infrastructure software/systems and SoC targets is much larger than uptake of the conventional U.S. IPO route. Our business combination strategy offers a differentiating liquidity pathway to shareholders of promising private IT infrastructure software/systems and SoC companies that are more than qualified to meet the listing rigor of Nasdaq and command a valuation of at least $700 million.

Our founders, Behrooz Abdi and Dr. Sunny Siu, have created multi-billion dollars in shareholder value over a series of mid-cap infrastructure IT and SOC companies, including RMI Corporation and NetLogic Microsystems Inc. together, and then InvenSense Inc., TDK Corporation and ProsphetStor Data Services Inc. separately. Their value transformation experience during the last Global Financial Crisis is particularly pertinent to technology entrepreneurs and management teams navigating today’s turbulent macroeconomic environments.

The company’s execution capabilities are further reinforced with the participation of cross-border technology private equity firm ACE Equity Partners LLC, which brings along additional transaction processing bandwidth as well as expertise in international mergers and acquisitions and business development.

Our Acquisition Strategy

To find the best partnering company in our targeted industries, we offer bespoke business combination solution under three guiding selection criteria

Commanding at least $500 million in equity value

High growth, presenting multi-year value creation opportunities

Mentally prepared to live up to the rigor of a US listed company

Founding Team