AvePoint went public via a SPAC merger with Apex Technology Acquisition in a $2bn deal.

AvePoint, a data management solutions provider for the Microsoft cloud, went public via a SPAC merger with Apex Technology Acquisition, a special purpose acquisition company, in a $2bn deal. Existing AvePoint shareholders own approximately 72% of the combined company, which is expected to have approximately $252m of cash on the balance sheet. Sixth Street, a global investment firm, continues as a shareholder in the combined company. Additionally, the combined company benefited from $140m in proceeds from a group of institutional investors participating in the transaction through a committed private investment. “We are thrilled to partner with AvePoint to help thousands of customers protect and manage their Microsoft cloud investments; Microsoft cloud is sweeping through the world’s enterprises. AvePoint is well-positioned to take advantage of this. Of over 200 public cloud companies, AvePoint is one of only five with 2020 estimated revenue in the $150m range, 2020 estimated year-over-year growth above 25%, and 2020 estimated EBIT Margin over 10%," Jeff Epstein, Apex CEO.