https://www.channelfutures.com/wp-content/themes/channelfutures_child/assets/images/logo/footer-new-logo.png
  • Home
  • Technologies
    • Back
    • Analytics
    • Artificial Intelligence
    • Cloud
    • Data Centers
    • Desktop
    • IoT
    • Mobility
    • Networking
    • Open Source
    • RMM/PSA
    • Security
    • Virtualization
    • Voice/Connectivity
  • Strategy
    • Back
    • Best Practices
    • Business Models
    • Channel 101
    • Channel Programs
    • Channel Research
    • Digital Transformation
    • Diversity & Inclusion
    • Leadership
    • Mergers and Acquisitions
    • Sales & Marketing
    • Specialty Practices
  • MSSP Insider
    • Back
    • Business of Security
    • Cloud and Edge
    • Endpoint
    • Network
    • People and Careers
    • Training and Policies
  • MSP 501
    • Back
    • 2020 MSP 501 Rankings
    • 2020 Hot 101 Rankings
    • 2020 MSP 501 Report
  • Intelligence
    • Back
    • Our Sponsors
    • From the Industry
    • Content Resources
    • COVID-19 Partner Help
    • Galleries
    • Podcasts
    • Reports
    • Videos
    • Webinars
    • White Papers
  • EMEA
  • Awards
    • Back
    • Excellence in Digital Services
    • 2020 MSP 501
    • Top Gun 51
  • Events
    • Back
    • CP Conference & Expo
    • Channel Partners Evolution
    • Channel Evolution Europe
    • Channel Partners Event Coverage
    • Webinars
  • Channel Mentor
    • Back
    • Channel Market Intelligence
    • Channel Educational Series
Channel Futures
  • NEWSLETTER
  • Home
  • Technologies
    • Back
    • Analytics
    • Artificial Intelligence
    • Cloud
    • Data Centers
    • Desktop
    • IoT
    • Mobility
    • Networking
    • Open Source
    • RMM/PSA
    • Security
    • Virtualization
    • Voice/Connectivity
  • Strategy
    • Back
    • Best Practices
    • Business Models
    • Channel 101
    • Channel Programs
    • Channel Research
    • Digital Transformation
    • Diversity & Inclusion
    • Leadership
    • Mergers and Acquisitions
    • Sales & Marketing
    • Specialty Practices
  • MSSP Insider
    • Back
    • Business of Security
    • Cloud and Edge
    • Endpoint
    • Network
    • People and Careers
    • Training and Policies
  • MSP 501
    • Back
    • 2020 MSP 501 Rankings
    • 2020 Hot 101 Rankings
    • 2020 MSP 501 Report
  • Intelligence
    • Back
    • Our Sponsors
    • From the Industry
    • Content Resources
    • COVID-19 Partner Help
    • Galleries
    • Podcasts
    • Reports
    • Videos
    • Webinars
    • White Papers
  • EMEA
  • Awards
    • Back
    • Excellence in Digital Services
    • 2020 MSP 501
    • Top Gun 51
  • Events
    • Back
    • CP Conference & Expo
    • Channel Partners Evolution
    • Channel Evolution Europe
    • Channel Partners Event Coverage
    • Webinars
  • Channel Mentor
    • Back
    • Channel Market Intelligence
    • Channel Educational Series
    • Newsletter
  • REGISTER
  • MSPs
  • VARs / SIs
  • Digital Service Providers
  • Cloud Service Providers
  • CHANNEL PARTNERS ONLINE
 Channel Futures

Mergers and Acquisitions


Shutterstock

SaaS Cloud connections

Key Microsoft SaaS Partner AvePoint Plans $2 Billion IPO via SPAC

  • Written by Jeffrey Schwartz
  • November 25, 2020
AvePoint is one of Microsoft’s largest Office 365, Teams and SharePoint ISV partners.

Microsoft SaaS partner AvePoint is planning an IPO by selling itself to Apex Technology Acquisition Corp. Apex, a special-purpose acquisition company (SPAC), will acquire AvePoint in a deal that values the company at nearly $2 billion.

Veteran technology investors Jeff Epstein, operating partner at Bessemer Venture Partners, and Brad Koenig, co-CEO at Apex, formed the SPAC last year. SPACs are companies formed specially with the intent of acquiring a private company, typically ones poised for growth.

SPACs, often called “blank checks,” allow companies to circumvent the traditional registration processes and investor road shows associated with IPOs. SPACs have offered companies an alternate route to IPOs for decades. But in 2020, a record number of companies used SPACs to go public. Among 370 IPOs in 2020 so far, 198 companies went public via SPACs, according to SPAC Analytics. That translates to roughly 54% of this year’s IPO activity, compared to 2019 when 28% of the IPOs were SPACs.

AvePoint's Tianyi Jiang

AvePoint’s Tianyi Jiang

“It’s much faster to go the SPAC route,” AvePoint co-founder and CEO Tianyi Jiang told Channel Futures. “This way, my team and I can go back and focus on running our business. With the traditional IPO, it would take much longer and create much more of a distraction.”

Jiang will continue to lead AvePoint and co-founder Kai Gong will become executive chairman.

Breakdown of AvePoint’s $2 Billion Valuation

Apex shares started trading on the Nasdaq in Sept. 2019. Once the deal closes next year, Apex will become AvePoint, whose shares will continue trading with the AVPT symbol. The $2 billion valuation is based on $352 million from Apex, and $140 million from PIPE investors. The remainder comes from $1.4 billion in equity rollover and $64 million on the balance sheet.

Apex shareholders will own almost 18% of the company, existing AvePoint shareholders will retain 72% and PIPE investors will hold 7%. Apex founders will hold the remaining 3.3%. Epstein will join AvePoint’s new board as a director and Koenig will be an observer on the board.

Prior to Bessemer, Epstein held various CFO roles at major tech companies including Oracle, DoubleClick and Nielsen. He has also served on 20 boards during the past 8 years. Koenig years ago was global head of technology at Goldman Sachs, where he led more than 200 IPOs. Companies Koenig advised include Microsoft, Dell, Symantec, Oracle, SAP and eBay.

Keep up with the latest channel-impacting mergers and acquisitions in our M&A roundup.

“We believe we are the ideal partner for AvePoint due to our many relationships in the capital markets, boardrooms and executive offices of AvePoint’s, customers and prospects, said Epstein, during a webcast Monday announcing the deal. “Our knowledge of enterprise software and our experience with some of the most effective and efficient leadership teams in the world.”

Roots in Microsoft SharePoint Migration and Management

AvePoint is a Microsoft SaaS partner that offers governance, management and data protection solutions for SharePoint, Office 365 and Teams. Founded in 2001, AvePoint is among the most visible ISVs in the SharePoint, Office 365 and Teams partner ecosystems. AvePoint started out offering SharePoint migration, management and governance software and remains quote influential in that segment.

But as SharePoint shifted to the cloud becoming a key component of Office 365, AvePoint expanded its solutions and now boasts a broad portfolio of SaaS tools. In addition to riding the Office 365 wave, the growth of Microsoft Teams has accelerated AvePoint’s growth. AvePoint estimates 2020 revenues of …

  • Page 1
  • Page 2
Tags: Cloud Service Providers MSPs Cloud Data Centers Mergers and Acquisitions Strategy

Related


  • Cloud
    How Secure is Your Cloud Data?
    The global COVID-19 pandemic has caused a massive shift to remote work. According to one estimate, the number of days spent telecommuting has risen 49% since the pandemic. While the pandemic may have triggered the shift, there’s no sign things will return to normal once the crisis fades. Even prior to the COVID-19 pandemic, businesses […]
  • Risk, Threat, Vulnerability Assessment
    Tenable Research: Publicly Known Vulnerabilities Increased in 2020
    Ransomware was by far the most popular attack vector in 2020.
  • McAfee Employees Getting Pink-Slipped in Likely 'Belt-Tightening'
    McAfee also reportedly is closing its Israel software development center.
  • Cloud backup
    Carbonite® Backup for Microsoft 365
    Microsoft 365 is a powerful suite of business productivity applications. But like any cloud platform, it’s not immune to data loss. Microsoft does not bear responsibility for the protection and retention of data. While Microsoft ensures the availability of its infrastructure, it recommends that customers assume responsibility for protecting the data in its suite of […]

Leave a comment Cancel reply

-or-

Log in with your Channel Futures account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Related Content

  • Survey: A Closer Look at Diversity in the Channel Community in 2021
  • Your Cloud Data Is Protected, But Is It Portable?
  • Hornetsecurity Acquires Altaro for Expanded Security Services
  • Cloud Providers in the Channel Flee From Parler

Galleries

View all

New, Changing Partner Programs: AWS, Tech Data, Avaya, Verizon

January 11, 2021

Industry Perspectives

View all

Cyberattacks: Threat Hunters Conquer Unpredictability with 3 Measures

January 21, 2021

The Right Data Migration Tool Helps Schools Move to Cloud During COVID Crisis

January 19, 2021

Cloud-Based CRM: What SMBs Need to Know about Backup and Recovery

January 19, 2021

Webinars

View all

Who’s Behind the Mask? Hacker Personas Explained

January 26, 2021

Your Network Perimeter Has Changed

February 18, 2021

How Managed Hosting Providers Thrive with the Alternative Cloud

February 24, 2021

White Papers

View all

Why Subscription Business Model

January 15, 2021

The Ultimate MSP Guide to Sales Efficiency

January 14, 2021

Eight Reasons Why MSPs Need IT Industry-Specific Sales Tools

January 14, 2021

Upcoming Events

View all

Channel Partners Virtual

March 2, 2021 - March 4, 2021

Channel Partners Conference & Expo

November 1, 2021 - November 4, 2021

Videos and Fastchats

View all

FASTCHAT: How SOAR Eliminates Security Challenges and Elevates Service Provider Revenues

January 6, 2021

Happy Holidays from Channel Partners & Channel Futures!

December 21, 2020

FASTCHAT: How Old, Unpatched Technologies Are Creating New Security Threats for MSPs and Their Customers

December 3, 2020

Twitter

ChannelFutures

Adding #AIOps and #AI-driven WANs will help IT administrators move forward, says @MistSystems.… twitter.com/i/web/status/1…

January 22, 2021
ChannelFutures

Microsoft taps @tybryson as corporate VP @msuspartner group @julwhite heading to SAP, @anderson to @Qualtrics.… twitter.com/i/web/status/1…

January 22, 2021
ChannelFutures

#MSPs can inject predictability into #threathunting @Sophos #cybersecurity #ransomware dlvr.it/Rr4ffV https://t.co/Bztc2Yxwvc

January 22, 2021
ChannelFutures

.@RiskBased report shows decrease in #databreaches, jump in exposed records in 2020. dlvr.it/Rr4fcW https://t.co/PYiDMiJFbt

January 22, 2021
ChannelFutures

Legal experts say @VMware's #lawsuit against @nutanix's new CEO holds little weight. dlvr.it/Rr48FJ https://t.co/oLxPhgvgAt

January 21, 2021
ChannelFutures

bit.ly/2Y0kFZh twitter.com/Craig_Galbrait…

January 21, 2021
ChannelFutures

Our latest #Cybersecurity Roundup features @BitSight and @kovrrIns, @Vectra_AI and @AppOmniSecurity,… twitter.com/i/web/status/1…

January 20, 2021
ChannelFutures

.@solarwinds hackers target @Malwarebytes, impacting internal emails. #cybersecurity dlvr.it/RqzkZp https://t.co/aWqLjCCW9y

January 20, 2021

MSSP Insider

Newsletters and Updates

Sign up for The Channel Report, Channel Futures Update, MSP 501 Newsletter and more.

Live Channel Events

Get the latest information on the next industry-leading Channel Partners event.

Channel Partners Online

Want more? Find more channel news and analysis on our sister site, Channel Partners.

Media Kit And Advertising

Want to reach our audience? Access our media kit

DISCOVER MORE FROM INFORMA TECH

  • Channel Partners Online
  • Channel Partners Events
  • MSP 501
  • MSSP Insider
  • IoT World Today
  • Webhostingtalk

WORKING WITH US

  • Contact
  • About us
  • Advertise
  • Newsletter

FOLLOW Channel Futures ON SOCIAL

  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookie Policy
  • Terms
Copyright © 2021 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.
This website uses cookies, including third party ones, to allow for analysis of how people use our website in order to improve your experience and our services. By continuing to use our website, you agree to the use of such cookies. Click here for more information on our Cookie Policy and Privacy Policy.
X