![]() ![]() We are grateful for the support of our long-term investors and the commitment from BurTech. It positions us perfectly to tackle the exciting challenges and global opportunities in AI computing and processors. We are eager to pioneer the path ahead."īlaize Quote: Commenting on this merger, CEO and co-founder of Blaize, Dinakar Munagala stated, "This combination with BurTech is a landmark event for Blaize. ![]() Our confidence in Blaize's management team is unwavering, and together, we are poised to be a leading player in a bright and transformative future in the world of edge AI. We are honored to have garnered strong backing from visionary investors, a testament to the revenue and growth potential in our journey. ![]() The potential in the field of edge AI is immense, and this partnership positions the combined company for success. The Blaize architecture includes its software suite composed of Blaize® AI Studio® and Blaize® Picasso® SDK (Software Development Kit), providing customers with a user-friendly and flexible means to swiftly develop and deploy applications at a highly optimized total cost of ownership (“TCO”).īurTech Quote: CEO and Chairman of BurTech Shahal Khan, commented, “Today marks the beginning of an extraordinary journey as BurTech agrees to combine with Blaize. This efficient processor architecture is designed to address the inherent challenges of edge AI processing, providing high-performance computing at low power consumption, minimal latency and high efficiency. Blaize’s proprietary, purpose-built, full-stack programable processor architecture and low-code/no-code software platform solutions are designed to enable enterprises to rapidly harness the power of AI at the periphery of the network and in the data center and deliver real-time insights and decision-making capabilities with speed and efficiency. The proposed transaction values Blaize at a pro forma enterprise value of $894 million.īlaize is a provider of full-stack, AI-enabled computing solutions across diverse and expanding markets, encompassing automotive, mobility, retail, security, industrial automation, healthcare and others that represent a collective total addressable market in excess of $70 billion. Upon closing of the proposed transaction, Blaize will become a publicly traded company and is expected to be listed on Nasdaq under a new ticker symbol. (“BurTech”) (NASDAQ: BRKH), a publicly traded special purpose acquisition company. (“Blaize”), a provider of purpose-built, AI-enabled edge computing solutions, announced today that it has entered into a definitive agreement to combine with BurTech Acquisition Corp. The proposed transaction values Blaize at a pro forma enterprise value of $894 million.Įxpected to deliver minimum proceeds of $70 million, prior to payment of expenses, to the combined company to accelerate Blaize’s full-stack edge-AI product roadmap and support Blaize’s execution of significant business opportunities.īlaize has a strong customer pipeline across multiple industries, underwritten by several joint development agreements, including a long-term joint development agreement with a leading automotive Tier-1 supplier, and a multi-phase master services agreement with a leading German automotive original equipment manufacturer (“OEM”) to deliver AI acceleration.ĮL DORADO HILLS, Calif.-(BUSINESS WIRE)-īlaize, Inc. 03:16 PMīlaize is a provider of full-stack artificial intelligence (“AI”) solutions for automotive and edge computing in multiple large and rapidly growing markets.īlaize has previously raised $224 million from strategic investors that include DENSO, Mercedes Benz, Magna and Samsung, financial investors such as Franklin Templeton, GGV and Bess Ventures, and globally-renowned operators such as Dado Banatao, Jürgen Hambrecht, Roland Berger, and Kurt Lauk. However, stakeholders should be aware of the legal and regulatory processes that could affect the timeline and finalization of the deal, with an expected close in the second quarter of 2024. The unanimous approval by the board of directors of both BurTech and Blaize is a positive indicator of mutual agreement on the merger's strategic benefits. The proposed transaction is subject to customary closing conditions, including the approval of stockholders and regulatory bodies, as well as the effectiveness of the Registration Statement containing a proxy statement/prospectus. ![]()
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