October 14, 2021
Tempo Automation, Inc., a leading software-accelerated electronics manufacturer, and ACE Convergence Acquisition Corp. (Nasdaq: ACEV), a special-purpose acquisition company focusing on industrial and enterprise IT, have announced that they have entered into a definitive merger agreement. Upon closing of the transaction, the combined operating entity will be renamed "Tempo Automation Holdings, Inc." and shares of its common stock are expected to trade on The Nasdaq Stock Market, LLC under the ticker symbol "TMPO".
Latham & Watkins LLP advised Tempo on the transaction with a corporate team led by Houston partners Ryan Maierson and Thomas Brandt and Washington, D.C. partner Patrick Shannon, with Houston associates Bryan Ryan, Paul Robe, Chad Leiper, Ziyad Barghouthy, and Morgen Seim. Advice was also provided by Los Angeles/Century City partner Pardis Zomorodi with Century City associate Joseph Marcus on tax matters; Washington, D.C. partner Jason Cruise and Frankfurt partner Max Hauser with Washington D.C. counsel Patrick English and Frankfurt associate Alisia Haber on antitrust matters; Bay Area partner Julie Crisp with Los Angeles associate Tara McCarney on benefits and compensation matters; and Bay Area partner Michelle Ontiveros Gross with associate Caroline Omotayo on IP and data privacy matters.