Tempo automation announces definitive agreement to acquire optimum design associates extending its accelerated manufacturing platform to electronic design services

San francisco, march 27, 2023 (globe newswire) -- tempo automation holdings, inc. (nasdaq: tmpo, “tempo automation” or “tempo”), a leading software-accelerated electronics manufacturer, announced today that it has entered into a definitive agreement to acquire optimum design associates, inc. and optimum design associates pty. ltd. (collectively “optimum” or “optimum design associates”), a fast-growing electronic design services company with offices in the united states and australia that has delivered over 10,000 printed circuit board (pcb) designs to blue-chip customers. by vertically integrating electronic design and manufacturing, tempo expects to be able to engage with customers even earlier in their product design process, streamlining the hardware development journey and providing a more efficient and faster way to get electronic products to market. the anticipated benefits of the acquisition include access to optimum's experienced engineering team and cross-selling opportunities to expand the customer base. the transaction is expected to close in the second quarter of this year.
TMPO Ratings Summary
TMPO Quant Ranking