The Lockheed Martin-backed PCB manufacturing software provider’s reverse takeover deal will involve it listing on the Nasdaq Stock Market.
Tempo Automation, a US-based industrial software developer backed by aerospace technology producer Lockheed Martin, has agreed a reverse merger with special purpose acquisition company Ace Convergence Acquisition Corp.
Founded in 2013, Tempo has created an automation tool that helps printed circuit board (PCB) components accelerate their manufacturing process.
The deal gives the company an implied equity value of approximately $919m and the combined entity, Tempo Automation Holdings, will get the Nasdaq Stock Market listing taken by Ace in a $200m…
