WESTPORT, CT -- Advanced Circuits has called off its previously announced agreement to be sold to Tempo Automation.
The deal, which was announced Oct. 13, was contingent upon Tempo Automation being acquired by a publicly traded special purpose acquisition company. Due to continued delay in closing the latter transaction, Advanced Circuits and its parent company, Compass Holdings, elected to terminate the agreement.
“Advanced Circuits is a proven industry leader in the PCB industry, and we’re proud of the company’s success under CODI’s ownership,” said Elias Sabo, CEO, Compass Diversified. “We look forward to continuing our partnership with Advanced Circuits and are excited about its future prospects which we believe will drive enhanced value for CODI shareholders.”
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