Tempo Automation announces definitive agreement to acquire Optimum

Tempo Automation announced that it has entered into a definitive agreement to acquire Optimum Design Associates and Optimum Design Associates, collectively Optimum, a fast-growing electronic design services company with offices in the United States and Australia that has delivered over 10,000 printed circuit board 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. "This acquisition will be a significant step toward our vision of transforming the speed and quality of electronics prototyping," said Joy Weiss, CEO of Tempo Automation. "As onshore electronics development and manufacturing continues to grow, the need for innovation in the end-to-end automation sector grows as well. Our industry has been fragmented and siloed, so we designed Tempo’s Accelerated Manufacturing Platform as a hub for industry consolidation and vertical integration."