Tempo Automation to Go Public via Merger with ACE Convergence Acquisition Corp; Acquire Advanced Circuits and Whizz Systems

ACE Convergence Acquisition Corp. to Merge with Tempo Automation (Tempo Automation Holdings, Inc.)

March 17, 2022

IT Services

ACE Convergence Acquisition Corp. (ACE) entered into an agreement and plan of merger with Tempo Automation to complete a business combination, after which the combined entity is expected to be renamed Tempo Automation Holdings, Inc. ACE and Tempo expect the transaction to close subject to conditions in the merger agreement and shareholder approvals. Separately, Cantor Fitzgerald’s affiliate committed to purchase up to $100 million of post-merger Tempo common stock from time to time to provide Tempo additional opportunistic capital.

APCT (IGP Portfolio Company) Acquires Advanced Circuits from Compass Diversified

February 15, 2023

Manufacturing

APCT, a portfolio company of Industrial Growth Partners, completed the acquisition and merger with Advanced Circuits, Inc., a designer and manufacturer of quick-turn, low-volume printed circuit boards. The transaction was announced January 10, 2023 and closed in February 2023 (enterprise value reported at $220 million), with the seller Compass Diversified receiving approximately $170 million of proceeds at closing after adjustments.

Tempo Software Acquires ALM Works

December 23, 2021

Software

Tempo Software, a PE-backed provider of time, resource and portfolio management solutions, has acquired ALM Works, the developer of the Structure for Jira project and portfolio management suite. The deal expands Tempo's strategic portfolio management capabilities by combining ALM Works' project-structuring tools with Tempo's time and capacity management products as an add-on to its platform.

Essentium to Go Public via Merger with Atlantic Coastal Acquisition Corporation

December 1, 2021

Manufacturing

Essentium, an advanced industrial additive manufacturing ecosystem provider, entered into a definitive business combination agreement with Atlantic Coastal Acquisition Corporation to become a public company. The combined company is expected to be listed on Nasdaq under the ticker symbol ADTV and is expected to close around the end of Q1 2022.

Ventoux CCM Acquisition Corp Completes Business Combination with Presto Automation

September 21, 2022

Cloud & SaaS

Ventoux CCM Acquisition Corp. and Presto completed their previously announced business combination, with Presto becoming a publicly traded company. The transaction included a strategic investment from Cleveland Avenue, LLC and other sources, and is tied to Ventoux’s special purpose acquisition structure.

Tempo Acquires Roadmunk

November 23, 2021

Cloud & SaaS

Tempo Software has acquired Roadmunk, an enterprise roadmapping SaaS platform, to combine product roadmapping with time, capacity and financial planning data. The acquisition aims to give product-led organizations integrated visibility across roadmaps, team capacity and budgeting to improve product planning and execution; terms were not disclosed.