AvePoint says it is the largest data management solutions provider for the Microsoft (NASDAQ:MSFT) cloud. The company said it can grow from a 3% share of Microsoft 365 customers to 10%. While he acknowledged that the deal is a straight software technology merger, it is “one of the rare deals that will also pay cash to existing shareholders of AvePoint. APXT shares are up as much as 13% in early trading today after gaining more than 2% on Monday. Benzinga does not provide investment advice. APXT … It is valued at approximately $2 billion, and the deal is expected to close in the first quarter of 2021. A recent Crunchbase article pointed out the very considerable advantages SPAC mergers have over IPOs for private companies. Show full articles without "Continue Reading" button for {0} hours. AvePoint, the Largest Microsoft 365 Data … Apex Technology Acquisition Corp (APXT) is a SPAC (special purpose acquisition company) that is taking AvePoint public via a reverse-merger. Like us on Facebook to see similar stories, Report: Trump call to Ga. election investigator reveals new details, Utah mother dies four days after taking second COVID vaccine dose. To listen to the prepared remarks via audio webcast, go to https://avept.it/invest. AvePoint also expects cash, cash equivalents and short-term investments to … It’s looking like investors are starting to take notice of blank-check company Apex Technology Acquisition (NASDAQ:APXT) about a month after InvestorPlace highlighted its planned merger with AvePoint. The company is being valued at $2 billion and will trade under AVPT. “We are one of those rare SaaS companies that have high growth and grow at a profitable cash positive margin.”. “We have first-mover advantage,” he said. On Nov. 23, Jersey City-based tech company AvePoint agreed to merge with Apex Technology Acquisition Corp (APXT). The team attached to Apex Technology Acquisition and their experience at Goldman Sachs (NYSE: GS) and Oracle Corporation (NYSE: ORCL) was attractive, he said. Chris is a … The largest Microsoft 365 data management solutions provider is AvePoint. When asked if the SPAC merger will close in the first quarter, Jiang told Benzinga: “absolutely, it will be the first quarter of 2021.”. AvePoint, Inc. ("AvePoint" or the "Company"), the largest data management solutions provider for the Microsoft cloud, announced today that it has entered into a definitive business combination agreement with Apex Technology Acquisition Corporation (NASDAQ: APXT), a publicly traded special purpose acquisition company ("Apex"). Today we announcedAvePoint will go public via a $2.0 billion USD initial public merger with Apex Technology Acquisition Corporation (NASDAQ: APXT), a special-purpose acquisition company (SPAC). It’s looking like plans to present the AvePoint story to investors has APXT stock gathering a bit of momentum. After the business combination is completed, AvePoint will be listed on the NASDAQ under the new ticker symbol, AVPT. After the … Price Action: Shares of Apex Technology trade at $14.38 at the time of writing. 23.11.20. AvePoint and SPAC Apex to merge. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. “We have a relationship with Microsoft for the last 19 years,” Jiang said. JERSEY CITY, N.J., Feb. 9, 2021 /PRNewswire/ -- AvePoint, a leading Microsoft 365 data management independent software vendor, appoints Jason Beal as senior vice president of global channel and partner ecosystems. Microsoft Analysts: Q1 Shows Payoff From Cloud Shift, Azure Narrowing The Gap With AWS, BAT Invests $175.7M In Organigram To Work On Next-Gen CBD Products, Privacy Policy / Do Not Sell My Personal Data. “So it’s really an end-to-end SaaS platform that handles the entire life cycle of enterprise data from birth to retirement.”. About AvePoint. The blank-check company is led by co-CEOs Jeff Epstein and Brad Koenig. APXT and AvePoint merger date The merger between APXT and AvePoint will likely take place sometime early in 2021, although an exact date hasn't been announced. The deal is expected to close in the first quarter of 2021. The CEO calls the relationship with Microsoft a "win-win symbiotic relationship," adding that AvePoint is important to Microsoft’s success. Register to attend: https://avept.it/liveqa. AvePoint is increasing its recurring revenue, Jiang said. By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy. “We also support multi-cloud,” the CEO said. Financials: AvePoint is estimating that revenue will grow 26% year-over-year to $148 million in fiscal 2020. AvePoint wants to move aggressively and scale the business, Jiang said. AvePoint, the Largest Microsoft 365 Data Management Solutions Provider, Announces $2bn Merger. The customer base includes around 25% of … “We have grown this business for the last 19 years with only $60 million primary capital, with no debt.”. APXT has reached a deal to merge with AvePoint, the largest Microsoft 365 Data Management Solutions Provider. Don't have a Benzinga account? AvePoint enables you to collaborate with confidence. After the merger between Apex and AvePoint is official, the newly formed company will trade on … The special purpose acquisition company has reached a merger deal with AvePoint, Inc., a data management solutions provider for the Microsoft cloud. APXT stock may represent a fairly straightforward tech deal. Everything you need to know about the latest SPAC news. The company is the largest Microsoft 365 data management solutions provider. Transaction includes a fully committed PIPE of $140 mm anchored by top-tier investors . Current AvePoint shareholders are expected to own about 72% of the … However, ahead of the AvePoint SPAC merger, things look hot. I am honored to continue leading this wonderful team … AvePoint handles compliance, record management, data integration and transformation, data management and governance, he said. Some companies use Microsoft Teams, Zoom, Salesforce and Amazon Web Services together, he said. A daily collection of all things fintech, interesting developments and market updates. his Dec. 7 piece that focused on several unique proposed mergers. Strong User Growth: AvePoint has 7 million active users from the Microsoft 365 network and a goal to get to 50 million active users. Shares have traded between $9.27 and $15.31 over the last 52 weeks. Related Link: Microsoft Analysts: Q1 Shows Payoff From Cloud Shift, Azure Narrowing The Gap With AWS. Nov.23 -- Microsoft Corp. data partner AvePoint Inc. says it has reached a deal to go public through a merger with blank-check company Apex Technology Acquisition Corp. Tianyi 'TJ' Jiang, chie... Other stocks mentioned: APXTU. “We think they could be real value at our business.”. AvePoint, Inc. ("AvePoint" or the "Company"), the largest data … AvePoint, the Largest Microsoft 365 Data Management Solutions Provider, Announces $2bn Merger. The SPAC Deal: AvePoint is merging with Apex Technology Acquisition Corporation APXT in a SPAC deal that values the company at $2 billion. Apex Technology Acquisition Corporation (NASDAQ: APXT, “Apex”) and AvePoint, the largest data management solutions provider for Microsoft 365, today a “The SPAC process is actually much, much faster,” Jiang said when asked about going the SPAC route over a traditional IPO. AvePoint, the Largest Microsoft 365 Data Management Solutions Provider, Announces $2bn Merger . AvePoint also supports multi-cloud and can help customers move from Slack Technologies (NYSE: WORK) to Microsoft Teams, he said: "we do the migration.". AvePoint, provider of SaaS products for migrating, managing and protecting Microsoft 365 data, made its deal with Apex on Monday. Someone who probably knows how to pick them is Chris DeMuth because he wrote about APXT in July back at $10.27. Everything you need to know about the market - quick & easy. APXT and AvePoint merger date The merger between APXT and AvePoint will likely take place sometime early in 2021, although an exact date hasn't been announced. AvePoint says it is the largest data management solutions provider for the Microsoft (NASDAQ:MSFT) cloud. AvePoint and Apex will host a joint investor conference call to discuss the transaction and review an investor presentation on November 23 at 12:30 pm ET. AvePoint is an independent software vendor for Microsoft and is one of the top five independent software vendors globally, he said. Data by YCharts. AvePoint, the Largest Microsoft 365 Data Management Solutions Provider, Announces $2bn Merger Transaction includes a fully committed PIPE of $140 mm anchored by top-tier investors AvePoint … Microsoft and partners may be compensated if you purchase something through recommended links in this article. Jeff Epstein discusses Avepoint's (AVPT) merger with a SPAC Apex Technology Acquisition Corporation (APXT). Microsoft cloud partner AvePoint going public via merger with blank-check company Apex Technology Published: Nov. 23, 2020 at 9:57 a.m. AvePoint CEO TJ Jiang joined Benzinga's "SPACs Attack" show to discuss the company’s decision to go public via an SPAC and its relationship with Microsoft. ET Get pre-market outlook, mid-day update and after-market roundup emails in your inbox. The combined company will be named AvePoint and will be listed on Nasdaq as "AVPT." AvePoint had forecasted $148 million at the announcement of the business combination in November 2020. The deal will provide $252 million to the combined company’s coffers. The company is in the same class as larger companies like Adobe Inc (NASDAQ: ADBE) and DocuSign (NASDAQ: DOCU), Jiang said. This is the second year of the company's annual recurring revenue growing at more than 30% year-over-year, the CEO said. If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com. AvePoint, Inc. (“AvePoint” or the “Company”), the largest data management solutions provider for the Microsoft cloud, announced today that it has entered into a definitive business combination agreement with Apex Technology Acquisition Corporation (NASDAQ: APXT), a publicly-traded special purpose acquisition company (“Apex”).. Nachrichtenquelle: Business Wire (engl.) SPACs are clearly becoming more mainstream, especially for private companies that want to go public quickly.
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