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Manufacturing Technology

Tempo Automation Announces a Definitive Agreement to Acquire Optimum Design Associates, Extending Manufacturing Platform to Electronic Design Services

Globenewswire | March 28, 2023 | Read time : 03:10 min

Tempo Automation Announces Definitive Agreement to Acquire Optimum Design Associates

Tempo Automation Holdings, Inc., 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.

“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.”

Nick Barbin, Co-founder and President of Optimum, added, “Our proprietary design management tools and library services are natural extensions to Tempo’s Accelerated Manufacturing Platform. The acquisition is an efficient way for us to accelerate our roadmap and offer PCB assembly services to our customers. We’re excited to join forces with Tempo and contribute to their mission of revolutionizing the electronics industry.”

Optimum’s experienced engineering team is recognized for its expertise in complex electronics designs with advanced constraints, with specialized skills in Radio Frequency (RF), Mixed Signal, and FPGA designs that are at the heart of most modern communication and mobility systems. Tempo has a track record of rapidly manufacturing similar complex designs and helping customers get their products to market quickly. Tempo believes that the opportunities to cross-sell design and manufacturing services will be natural synergies for the combined company.

Tempo recently added powerful new tools to its Accelerated Electronics Manufacturing Platform, enabling its customers to hedge against electronics components market volatility. Customers can secure critical components early with Tempo and apply them to their many prototype and on-demand production builds. Optimum’s engineers will be able to tap into these tools to ensure that new electronic designs incorporate components that can be readily sourced and offer to have these pre-purchased and managed for the customer.

About Tempo Automation

Tempo is a leading software-accelerated electronics manufacturer, transforming the way top companies innovate and bring new products to market. Tempo Automation’s unique automated manufacturing platform optimizes the complex process of printed circuit board manufacturing to deliver unmatched quality, speed and agility. The platform’s all-digital process automation, data-driven intelligence, and connected smart factory create a distinctive competitive advantage for customers—to deliver tomorrow’s products today. From rockets to robots, autonomous cars to drones, many of the fastest-moving companies in industrial tech, medical technology, space, and other industries partner with Tempo Automation to accelerate innovation and set a new tempo for progress.

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