- It will be helmed by Achronix Chief Executive Officer Robert Blake
- The deal is expected to be completed by the end of the first half of 2021, pending approvals
As per a report by Reuters, Achronix Semiconductor Corp said that it has agreed to go public through a merger with blank-check firm ACE Convergence Acquisition Corp in a $2.1 billion deal. It added that the combined company, which is expected to be listed on the Nasdaq under the symbol “ACHX,”.
The report said that it will be helmed by Achronix Chief Executive Officer Robert Blake, the companies said. The deal is expected to be completed by the end of the first half of 2021, pending approvals.
Supplies field programmable gate arrays (FPGA) for use in 5G equipments
Achronix supplies field programmable gate arrays (FPGA) for use in 5G equipments and cloud computing. It was founded in 2004. The report added that a blank-check firm, also known as a special purpose acquisition company (SPAC), uses proceeds from an initial public offering to buy a private company and then take it public.