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Announced

Completed

SoundHound went public via a SPAC merger with Archimedes Tech SPAC Partners in a $2.1bn deal.

Financials

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Transaction Value£1,564m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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artificial intelligence

Private Equity

Auto Technology

Domestic

De-SPAC

Friendly

Acquisition

Merger

Majority

United States

Private

Single Bidder

Reverse Takeover

Completed

Synopsis

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SoundHound, a voice AI platform, went public via a SPAC merger with Archimedes Tech SPAC Partners, a blank check company, in a $2.1bn deal. Investors in PIPE include Oracle, Koch Industries, MKaNN Ventures, Cota Capital, VIZIO, HTC, FIH Mobile, Structural Capital, Provco Group, Sompo and Pejman Nozad. "Entering the public markets is a huge milestone for SoundHound and I am incredibly proud of our team and what we’ve accomplished together. It is also an important milestone in the voice AI industry that an independent voice platform like ours can be a disruptor and provide more choice to businesses that want to enhance their customer experience with voice. Becoming a public company opens the door for expanded opportunities and to work with customers and partners across industries to continue our mission to voice-enable the world around us,” Keyvan Mohajer, SoundHound CEO and Co-Founder.

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