AvePoint, Inc. the data management solutions provider for the Microsoft cloud, announced it has entered into a definitive business combination agreement with Apex Technology Acquisition Corporation, a publicly traded special purpose acquisition company (SPAC). Upon closing the transaction, it is expected that the combined company will be named AvePoint and will remain a publicly traded company listed on the Nasdaq Stock Market under a new ticker symbol, “AVPT.” The transaction, values the combined company at an equity value of approximately $2 billion on a pro forma basis. The combined company will be led by Dr. Tianyi Jiang, AvePoint’s co-founder and CEO, and AvePoint co-founder Kai Gong will serve as Executive Chairman. The transaction has been approved by the Board of Directors of Apex, as well as the Board of Directors of AvePoint, and is subject to the satisfaction of customary closing conditions.
AvePoint focuses on digital collaboration technologies, such as SharePoint migration, automated Microsoft Teams management, and the ability to migrate Microsoft Teams/Slack chats into the target channel. The Company sells directly to large and mid-market enterprises, and its solutions are also available to managed services providers on more than 100 cloud marketplaces globally.