Investors and security holders may obtain free copies of the preliminary proxy statement/prospectus and definitive proxy statement/prospectus (when available) and other documents filed with the SEC by ACE through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: ACE Corporation, 1013 Centre Road, Suite 403S, Wilmington, DE. Create your Watchlist to save your favorite quotes on Nasdaq.com. These forward-looking statements generally are identified by the words “intend,” “future,” “may,” “will,” “would,” “will be,” and similar expressions. Speedster7t FPGAs received the Frost and Sullivan New Product Innovation Award for 2020 North American FPGAs for Data Centers. 38 . More content below. Achronix, a semiconductor company, is merging with Ace Convergence Acquisition (NASDAQ: ACEV). [email protected], ACE Convergence Acquisition Corp.: Robert Blake, Achronix’s Chief Executive Officer stated, “2020 was a strong growth year for Achronix. tip February 2, 2021. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect the price of ACE’s securities; the risk that the proposed transaction may not be completed by ACE’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by ACE; the failure to satisfy the conditions to the consummation of the proposed transaction, including the adoption of the Merger Agreement by the shareholders of ACE or the stockholders of Achronix and the receipt of certain governmental and regulatory approvals; the lack of a third party valuation in determining whether or not to pursue the proposed transaction; the inability to complete the concurrent PIPE financing; the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; the effect of the announcement or pendency of the transaction on Achronix’s business relationships, operating results, and business generally; risks that the proposed transaction disrupts current plans and operations of Achronix; the outcome of any legal proceedings that may be instituted against Achronix or against ACE related to the Merger Agreement or the proposed transaction; the ability to maintain the listing of ACE’s securities on a national securities exchange; changes in domestic and foreign business, market, financial, political, and legal conditions and changes in the combined capital structure; the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities; failure to realize the anticipated benefits of the proposed transaction; risks related to the continued impact of the COVID-19 pandemic; related to the rollout of Achronix’s business and the timing of expected business milestones; the effects of competition on Achronix’s business; the effects of the cyclical nature of the semiconductor industry on Achronix’s business; risks related to Achronix’s customer concentration; the risks to Achronix’s business if internal processes and information technology systems are not properly maintained; risks associated with Achronix’s operational dependence on independent contractors and third parties; risks associated with Achronix’s reliance on certain suppliers for, among other things, silicon wafers; risks and uncertainties related to Achronix’s international operations, including possible restrictions on cross-border investments which could harm Achronix’s financial position; and risks associated with Achronix’s ability to develop new products and adapt to new markets. Our new and highly differentiated Speedster7t FPGAs together with our innovative Speedcore eFPGA IP solutions for data acceleration have seen significant levels of new design activity across all of our target end-market applications.”, Mr. Blake further commented, “We look forward to closing our merger with ACE Convergence Acquisition Corp. (ACE) in the second quarter of 2021 and completing our listing on Nasdaq under the new Achronix Semiconductor Corporation ticker symbol ACHX. Adjusted EBIT should not be considered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, comparable financial measures calculated in accordance with GAAP. Achronix’s exceptional growth is driven primarily by sales of its Speedster ® 22i FPGA family and licensing of its Speedcore™ embedded FPGA (eFPGA) IP products. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of ACE’s registration statement on Form S-4 discussed above and other documents filed, filed with the SEC on February 10, 2021, as may be amended from time to time with the SEC and available on EDGAR at www.sec.gov. Released new versions of Achronix design tools supporting the Speedster7t and Speedcore product offerings. All statements, other than statements of present or historical fact included in this press release, regarding ACE’s proposed acquisition of Achronix, ACE’s ability to consummate the proposed transaction, the benefits of the proposed transaction and the combined company’s future financial performance, as well as the combined company’s strategy, future operations, prospects and pipeline expectations, shipping expectations for new products, and plans and objectives of management are forward-looking statements. Click here to find out more about our partners. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of ACE, the combined company or Achronix, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. We also believe that the presentation of non-GAAP financial measures provides an additional tool for investors to use in comparing our core business and results of operations over multiple periods with other companies in our industry, many of which present similar non-GAAP financial measures to investors. Important Information for Investors and Stockholders. For more information, please visit www.achronix.com. The event takes place online and will be hosted … Achronix Semiconductor Corporation is a fabless semiconductor corporation based in Santa Clara, California, offering high-end FPGA-based data acceleration solutions, designed to address high-performance, compute-intensive and real-time processing applications. There may be additional risks that Achronix does not presently know, or that Achronix currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. You can select 'Manage settings' for more information and to manage your choices. Achronix is the only supplier to have both high-performance and high-density standalone FPGAs and licensed eFPGA solutions. Other major FPGA suppliers include Intel Corp. and Xilinx Inc., which has a pending deal to be acquired by Advanced Micro Devices Inc. We all know that in 2021 Intel Corp is having a leadership, execution and business … Achronix Semiconductor Corporation is a fabless semiconductor corporation based in Santa Clara, California, offering high-end FPGA-based data acceleration solutions, designed to address high-performance, compute-intensive and real-time processing applications. Achronix and Speedster are registered trademarks, and Speedcore and Speedchip are trademarks of Achronix Semiconductor Corporation. After the Registration Statement has been declared effective, ACE will mail a definitive proxy statement, when available, to its stockholders. Frost and Sullivan selected Achronix as the winner of their 2020 New Product Innovation award. Achronix and Mobiveil Announce Partnership to Deliver High-Speed Controller IP and FPGA Engineering Services Mar 2, 2021 Hercules Capital Reports Fourth Quarter and Full-Year 2020 Financial Results Achronix Merges with ACE Convergence. All Achronix products are fully supported by a complete and optimized range of Achronix design tools, which enables customers to quickly develop their own custom applications. ACE Convergence Acquisition Corp. is a $230 million special purpose acquisition company whose business mandate is to identify and acquire an emerging leader in the IT infrastructure software/systems and system-on-a-chip markets that is well-positioned to capitalize on the changing landscape of data acceleration being driven by developments in AI, Cloud, and 5G technologies. Highly differentiated financial profile with estimated 2020 revenues of approximately $105 million, 79% gross margins and 35% operating margins with migration to next-generation products driving an estimated revenue CAGR of 20% to 25% from 2020 to 2025 By clicking "Accept all" you agree that Verizon Media and our partners will store and/or access information on your device through the use of cookies and similar technologies and process your personal data, to display personalised ads and content, for ad and content measurement, audience insights and product development. Its chip business has secured over $400 million in production orders and its estimated revenue in 2020 is $105 million. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release. These symbols will be available throughout the site during your session. Article continues below advertisement Achronix generated $105 million in revenue in 2020 and made a profit of more than $30 million. ACE is comprised of a team of sector specialists with a solid track record of scaling complex technology organizations and making transformative value-creation decisions. Achronix is the only high-end FPGA provider to offer both standalone FPGA and eFPGA IP in high volume production. A major focus of the one day, online event is around building the next generation of large-scale infrastructure to support emerging AI workloads. New performance features include a simplified I/O designer toolkit and two-dimensional network on chip (2D NoC) analysis tools. ACE Equity Partners is an Asian-nexus mid-market cross-border private equity firm with a single-minded focus on the convergence of digital and industrial technologies. You can change your choices at any time by visiting Your Privacy Controls. Achronix revenues began to significantly ramp in 2016 and the company reached profitability in Q1 2017. Achronix claims estimated 2020 revenues of approximately $105 million, 79% gross margins and 35% operating margins with migration to next-generation products driving an estimated revenue CAGR of 20% to 25% from 2020 to 2025. This year, Achronix is expected to post 173 billion won in revenue. The company has 134 employees, mostly split across key sites in Santa Clara, Calif. and Bangalore, India. Achronix Announces 2020 Financial Results and Business Highlights. All Achronix … All other brands, product names and marks are the property of their respective owners. The foregoing list of factors is not exhaustive. Achronix and ACE Convergence Acquisition Corp., a special-purpose acquisition company (SPAC), announced that they have entered into a definitive agreement for a business combination. 2020 Highlights: Revenue increased to $105 million in line … Type a symbol or company name. Achronix FPGA and eFPGA IP offerings are further enhanced by ready-to-use accelerator cards targeting artificial intelligence (AI), machine learning, networking and data center applications. Tax Planning; Personal Finance; Save for College; Save for Retirement; Invest in Retirement Santa Clara, Calif., June 14 th, 2017 – Achronix announced today that its revenues will grow over 700% year over year and will exceed $100M in 2017. Achronix will post ~$160M in revenue for this year. Completed 7nm silicon validation of its 1-112G high-performance SerDes supporting 400G Ethernet and PCI Express Gen 5. The Next AI Platform features live technical interviews and panels with preeminent leaders in the in the artificial intelligence (AI) high-end infrastructure space. Through this business combination, we intend to use the additional capital generated to help further accelerate the adoption of data acceleration solutions and strategic product development initiatives to drive long-term growth.”. Achronix Semiconductor Corporation, a leader in high-performance field-programmable gate arrays (FPGAs) and embedded FPGA (eFPGA) IP today announced financial results … For more information, please visit: http://acelp.co.kr. Forward-looking statements speak only as of the date they are made. Source: ACE Convergence Acquisition Corp. © 2021, Nasdaq, Inc. All Rights Reserved. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Added 12 new sales representative teams in key geographies to accelerate the adoption of Speedster7t FPGAs and Speedcore™ products worldwide. [email protected] Meet with Achronix at HotChips 2020 virtual event where we will be showcasing our 7nm Speedster7t FPGA, VectorPath accelerator card and Speedcore eFPGA IP solutions. The report is an in-depth and dedicated scrutiny … The company’s last round of funding in 2016 brought its total capital raised to a little over $150m, though it has been funded by revenue since then. View source version on businesswire.com: https://www.businesswire.com/news/home/20210223006102/en/, For Achronix: SANTA CLARA, Calif. -- (BUSINESS WIRE)-- Achronix Semiconductor Corporation, a leader in high-performance field-programmable gate arrays (FPGAs) and embedded FPGA (eFPGA) IP … Achronix Semiconductor Corporation, a leader in high-performance field-programmable gate arrays (FPGAs) and embedded FPGA (eFPGA) IP today announced financial results for the year ended December 31, 2020, reporting revenue of $104.9 million and GAAP net income of $30.4 million and adjusted EBIT (non-GAAP) of $37.4 million. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. SANTA CLARA, Calif.--(BUSINESS WIRE)-- We present adjusted EBIT (non-GAAP) in this press release, which is defined as our net income excluding stock-based compensation expense, total other income (expense), net, and provision for income taxes. ACE and its directors and officers may be deemed participants in the solicitation of proxies of ACE’s shareholders in connection with the proposed business combination. MarketandResearch.biz has published a new market report titled Global Hardware Acceleration Market Growth (Status and Outlook) 2020-2025 consists of insights about all the essential parameters of this market such as consumption and the production patterns coupled with the revenue patterns for the prediction period from 2021 to 2026. Company profile section of players such as NVIDIA Corporation, Intel Corporation, Advanced Micro Devices, Achronix Semiconductor, Oracle Corporation, Xilinx, IBM Corporation, Hewlett Packard Enterprise, Dell, Lenovo Group, Fujitsu, Cisco Systems, VMware, Enyx Recruitics includes its basic details like legal name, website, headquarters, its market position, historical background and top … In connection with the proposed transaction, ACE has filed a registration statement on Form S-4 (the “Registration Statement”) with the SEC, which includes a preliminary proxy statement to be distributed to holders of Ace’s common stock in connection with ACE’s solicitation of proxies for the vote by ACE’s stockholders with respect to the proposed transaction and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of securities to be issued to Achronix’s stockholders in connection with the proposed transaction. Type a symbol or company name. Achronix's major clients include Intel, Google, Microsoft and Samsung. Information concerning the interests of ACE’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the registration statement, proxy statement relating to the business combination when it becomes available. Organized by Kisaco Research, the AI Hardware Summit is the only event dedicated to AI hardware. The summit invites leaders from AI chip start-ups, semiconductor companies, system vendors/OEMs, data centers, end users, financial services, investors and fund managers to build a comprehensive architectural roadmap of the emerging AI chip market. What I like about Achronix is the limited competitors they have. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. For more information, please visit http://acev.io/home/default.aspx. Find out more about how we use your information in our Privacy Policy and Cookie Policy. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. SANTA CLARA, Calif. — (BUSINESS WIRE) — February 23, 2021 — Achronix Semiconductor Corporation, a leader in high-performance field-programmable gate arrays (FPGAs) and embedded FPGA (eFPGA) IP today announced financial results for the year ended December 31, 2020, reporting revenue of $104.9 million and GAAP net income of $30.4 million and adjusted EBIT (non-GAAP) of $37.4 million. The Silicon Valley-based FPGA maker's revenue in 2018 stood at around 67 billion won ($61.2 million), which surged to 115 billion won in 2020. In January 2021, SPAC ACE Convergence Acquisition Corp. (ACEV) announced intent to acquire Achronix Semiconductor Corp. See, if you should you invest. 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