AvePoint announced it really is going public through a merger by having a unique function purchase business (SPAC) called Apex Technology Acquisition Corp. This deal values the combined company at $2 billion.
AvePoint will be the true name for the combined business. While the stock shall continue to be traded regarding the Nasdaq change beneath the ticker symbol “AVPT.”
The combined company will probably be led by AvePoint co-founder and CEO Dr. Tianyi Jiang. AvePoint co-founder Kai Gong will serve as Executive Chairman for the business. Apex is led by former Oracle CFO Jeff Epstein and Goldman that is previous Sachs of tech Investment Banking Brad Koenig. And their combined experience includes over 100 technology IPOs and mergers organizations that are involving Microsoft, Oracle, and Twilio.
“AvePoint provides information being critical solutions that enable organizations to create their electronic collaboration systems more productive, secure and compliant. The effect of COVID-19 and the growth of Microsoft’s cloud solutions, including Microsoft 365 and Microsoft Teams, have accelerated interest in our services and products. And we were growing prior to COVID-19 also. We have accomplished eight quarters of impressive development. We have positive money that is free as they are in line with the key ‘Rule of 40’ SaaS industry growth metric. Going general public now provides the capability to fulfill this need and scale up faster across product innovation, channel marketing, international areas, and consumer success initiatives.”
“We are delighted to partner with AvePoint to help huge number of customers protect and manage their Microsoft cloud investments; Microsoft cloud is sweeping through the enterprises that are world’s. AvePoint is well-positioned to benefit from this. Of over 200 cloud that is general public, AvePoint is one of just five with 2020 expected revenue into the $150 million range, 2020 estimated year-over-year growth above 25%, and 2020 estimated EBIT Margin over 10%.” AvePoint announced it really is going public through a merger.