Latest Breaking News On - Convergence acquisition corp - Page 7 : comparemela.com

Field　programmable　gate　array　made　by　Achronix　(Courtesy　of　Achronix) South Korea-based private equity firm Ace Equity Partners has acquired Achronix Semiconductor Corp., a US-based fabless company, through a special purpose acquisition company (SPAC) merger. It marks the first time for a Korean PE firm to set up a SPAC on the Nasdaq to acquire a US-based company. Achronix, with a post-transaction equity value of $2.1 billion, will merge with ACE Convergence Acquisition Corp., a $230 million blank check firm set up by Ace Equity Partners. The new entity will begin trading on the Nasdaq in mid-March following the merger completion, according to the company on Jan. 8.

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