AvePoint has gone public after completing of its previously announced business combination with Apex Technology Acquisition Corporation.
The company, which claims to be the largest Microsoft 365 data management solutions provider, is expected to begin trading on the NASDAQ Capital Market under the ticker symbol AVPT for AvePoint common stock and AVPTW for AvePoint warrants.
AvePoint CEO Tianyi Jiang said the way the company will work will never be the same and it continues to evolve.
“While collaboration within the cloud grows at an exceptional rate, the promise of digital transformation is only in its infancy.
“As the largest Microsoft 365 data management solutions provider with two decades worth of reimagining how companies work, AvePoint is uniquely positioned to capitalise on this moment in time.”
AvePoint says the business combination will provide an influx of cash “to drive accelerated investment in product innovation, channel marketing, international market expansion and customer success initiatives”.
The company remains debt-free, it says, and is now one of eight public software companies with at least $150m in annual revenue, 25 percent year on year growth and a 10 percent EBITDA margin.
AvePoint’s senior management team, including CEO Jiang, will continue to lead the combined company, and Jeff Epstein and Brad Koenig, co-CEOs of Apex, will join AvePoint’s board of directors as a director and an advisor respectively.
“Given AvePoint’s leadership in digital collaboration security and data management for Microsoft 365, the company is uniquely positioned to benefit from the shift to remote work collaboration and enterprise cloud adoption”, Epstein said.
