ACE ACEVU = 1C + 1/2W
$230.0 million if the underwriters’ over-allotment option is exercised in full ($10.00 per unit)
1 W + 11.50
18 months
7/28/20 IPO date
Cantor
ACE Equity Partners is a cross-border technology private equity firm founded in 2017. It has led transactions amounting to more than $1.6 billion across its investment funds and vehicles as of March 31, 2020, and has offices in Seoul and Singapore. ACE Equity Partners is focused on pursuing assets that are conducive to “the fourth industrial revolution”, that is, enhancing the industrial enterprise through digitalization and advanced technologies.
Our management team is led by Behrooz Abdi, our Chief Executive Officer and Chairman of our board of directors, Dr. Sunny Siu, our President and one of our directors, and Denis Tse, our Secretary and one of our directors. Behrooz Abdi is an entrepreneur in the high-tech industry, taking on numerous operational, executive, and board director roles throughout his career. In the last decade he has invested, or has served as an officer or board member, of a number of private and public companies, several of which have been acquired, creating billions of dollars of cumulative value for investors. Mr. Abdi was most recently General Manager of the Micro Electro Mechanical Systems (“MEMS”) Sensor Business Group of TDK Corporation (“TDK”) and Chief Executive Officer of InvenSense, Inc. (“InvenSense”), a role he had held since 2012 when InvenSense was independent and publicly listed on the New York Stock Exchange before its acquisition by TDK for $1.3 billion in 2017. He remains a strategic advisor to TDK Sensor System Company. Prior to his time at InvenSense, Mr. Abdi was Chief Executive Officer and President of network processor company RMI Corporation (“RMI”) and Executive Vice President of the company’s acquirer, NetLogic Microsystems, Inc., a semiconductor company (“NetLogic”). In both of the transactions, between RMI and NetLogic in 2009 and between InvenSense and TDK in 2017, Mr. Abdi played an instrumental leadership role in driving and executing the trade-sale decisions. Mr. Abdi was previously the Senior Vice President and General Manager of Qualcomm CDMA Technologies (“QCT”) at Qualcomm Incorporated (“Qualcomm”), and worked at Motorola Inc. for 18 years, where his last role was Vice President and General Manager in charge of the mobile radio frequency and mixed-signal integrated circuits product line. Mr. Abdi holds a bachelor’s degree in electrical engineering from Montana State University — Bozeman and a master’s degree in electrical engineering from Georgia Institute of Technology.
Dr. Sunny Siu is currently Co-founder and President of ProphetStor Data Services Inc., an emerging solution provider of artificial intelligence for IT Operations (“AIOps”) for the multi-cloud market. Prior to this, he was Managing Director — Greater China for the Processors and Wireless Infrastructure Business Unit of Broadcom Corporation (“Broadcom”), as a result of the company’s acquisition of NetLogic, where Dr. Siu was serving as President and General Manager — Asia Pacific. He previously held the same roles at RMI, where he was a co-founder, before it was acquired by NetLogic. The acquisition of RMI by NetLogic was transformative. Thanks to the networking processor product line brought in from RMI, NetLogic’s share value increased significantly in a span of two and a half years until 2012 when NetLogic was acquired by Broadcom in a $3.7 billion trade-sale, Broadcom’s largest acquisition to date as of that time. Between RMI and NetLogic, Dr. Siu was instrumental in growing revenues in Asia by over $100 million between 2006 and 2012. Before entering the industry, Dr. Siu was Associate Professor and received the Alex d’Arbeloff endowed chair at the Massachusetts Institute of Technology, where he was the founding research director of the MIT Auto ID Center, a pioneer in Internet of Things (“IoT”) research, and before that, an Assistant Professor at University of California — Irvine, where he received the Distinguished Assistant Professor Award for Research. Dr. Siu holds a Bachelor of Science (summa cum laude) degree in
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Computer Science and Mathematics from New York University, a Bachelor of Engineering (summa cum laude) degree in Electrical Engineering from Cooper Union and a PhD and Master’s degree in Electrical Engineering from Stanford University. Dr. Siu was a recipient of the U.S. National Science Foundation Young Investigator Award and best research paper awards from IEEE and SPIE, and the lead author of a research monograph on neural networks, “Discrete Neural Computation: A Theoretical Foundation” published by Prentice-Hall.
Denis Tse is Chief Executive Officer of ACE Equity Partners International Pte Ltd., the international subsidiary of ACE Equity Partners, and Founder and Managing Partner of its affiliate, Asia-IO Advisors Limited. Mr. Tse has 21 years of private markets and technology private equity experience, including six years as Head of Private Investments — Asia with Lockheed Martin Investment Management Company, where he was named “40 under 40” by Chief Investment Officer in 2014. He holds a Bachelor of Science (Honor) degree from Northwestern University and an MBA from INSEAD.