Apex Technology (APXT) is in talks with merging with Microsoft (MSFT) partner AvePoint. Shares of the SPAC has jumped 26% on the supposed announcement. AvePoint is an independent software vendor of SaaS solutions for migrating, managing, and protecting data in Microsoft 365.
This deal values the combined company at $2 billion and the stock will continue to be traded on the Nasdaq exchange under the ticker symbol “AVPT”.
The combined company is going to be led by AvePoint co-founder and CEO Dr. Tianyi Jiang. AvePoint co-founder Kai Gong will serve as Executive Chairman of the company.
Apex is led by former Oracle CFO, Jeff Epstein and former Goldman Sachs (GS) Head of Technology Investment Banking, Brad Koenig. Their combined experience includes over 100 technology IPOs and mergers involving companies like Microsoft (MSFT), Oracle (ORCL) , and Twilio (TWLO).
