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Ace Equity becomes Asia's first PE firm to conduct SPAC merger

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.,...
David Ko Achronix Semiconductor Corp Convergence Acquisition Corp Preciseley Microtechnology Corp Intel Corp Korea Based Ace Equity Partners

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