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Avepoint Completes Acquisition Of Essential Co. Ltd. To Advance Market Reach In South Korea

Oct 11, 2022•about 3 years ago

Acquiring Company

AvePoint

Acquired Company

Essential Ltd

Jersey Cityinformation technology & servicesInformation Technology

Description

AvePoint (NASDAQ: AVPT), the most advanced SaaS and data management platform provider, today announced it completed its acquisition of Essential Co. Ltd. (Essential), a South Korea-based software solutions provider that will advance AvePoint’s ability to enable organizations to accelerate data-driven digital transformation.

Company Information

Company

AvePoint

Location

525 Washington Blvd

Jersey City, New Jersey, United States

About

AvePoint is a public software company founded in 2001 and based in Jersey City, New Jersey. It specializes in data management, governance, and protection solutions for platforms like Microsoft 365, Google Workspace, and Salesforce. The company started with backup solutions for Microsoft Exchange and SharePoint and has grown into a leader in digital workplace transformation, serving over 25,000 customers in more than 100 countries. The flagship product, the AvePoint Confidence Platform, is a comprehensive SaaS solution that offers data backup, migration, management, governance, and compliance across various cloud environments. AvePoint's platform manages over 535 petabytes of data and is supported by 14 data centers, ensuring scalability and security. The company primarily targets enterprise and government organizations, providing tools for IT administrators, compliance officers, and business leaders to enhance their digital workplaces. AvePoint is committed to innovation and security, helping organizations navigate the evolving digital landscape.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed