Microsoft 365 cloud partner AvePoint is going public through a merger with a listed US investment company that will value the final entity at around $US2 billion.

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. 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.

AvePoint has more than 7 million cloud users as of September 30, 2020 and an estimated addressable market of $US33 billion by 2022 according to IDC.

AvePoint expects to generate approximately $US148 million in total revenue for the year ending December 31, 2020, which would be an increase of approximately 26% over 2019 revenue.

Over its nearly 20 year history, AvePoint has developed many 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 launched another product during COVID-19 -- a SaaS solution to provide sensitivity-based security insights and automated policy enforcement to prevent risky oversharing in Microsoft 365.

“AvePoint provides critical data management solutions that enable organizations to make their digital collaboration systems more productive, secure and compliant. The impact of COVID-19 and the growth of Microsoft’s cloud solutions, including Microsoft 365 and Microsoft Teams, have accelerated demand for our products. And we were growing prior to COVID-19 as well. We have achieved eight quarters of impressive growth. We have positive free cash flow and are in line with the key ‘Rule of 40’ SaaS industry growth metric,” said Dr. Jiang.

 “Going public now gives us the ability to meet this demand and scale up faster across product innovation, channel marketing, international markets, and customer success initiatives.”