ACE Convergence Acquisition Corp.

Achronix, a fabless semiconductor corporation, agreed to combine with special purpose acquisition company ACE Convergence Acquisition. The combined entity will be named Achronix Semiconductor Corporation with a $2.1 billion post-transaction equity value.

Achronix Semiconductor Corporation and ACE Convergence Acquisition Corp. entered into a definitive agreement for a business combination, with Achronix expected to list on Nasdaq under ticker ACHX by mid-2021.