AvePoint eyes US$100 million in acquisitions to fast-track US$1 billion revenue target
The data protection firm is also considering more stock buybacks and expanding its headcount
Add BT as a preferred source
[SINGAPORE] Armed with a US$481 million war chest, data protection firm AvePoint is eyeing deals worth more than US$100 million as it seeks to accelerate its path towards US$1 billion in annual recurring revenue (ARR) by 2029.
While the Nasdaq and Singapore Exchange (SGX) mainboard-listed firm has primarily relied on organic growth for years, chief executive officer Jiang Tianyi signalled the company’s shift towards larger, more strategic acquisitions.
“We are looking at assets that can help us expand our platform, to be more ‘sticky’,” he told The Business Times in an interview. Since its inception in 2001, the company has made six acquisitions, all of which were below US$20 million in value.
TRENDING NOW
Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass
Lazada cuts about 5% of workforce as part of review across South-east Asia markets
Singtel sells S$1 billion in Gulf Development shares
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
