The special purpose acquisition company (SPAC) boom has quickly turned into a bust. It’s not hard to see why. A bunch of hastily assembled SPACs all came to market at once and subsequently disappointed investors. SPACs prior to 2020 were known for underwhelming performance as well. So it’s hardly shocking that folks are shunning them once again. However, this aversion is leading to buying opportunities for good SPACs caught up in the crossfire. One such example is Apex Technology Acquisition (NASDAQ:APXT), which is set to merger with AvePoint soon. Let’s take a closer look at the story behind APXT stock.
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AvePoint is a software player that is vital within the Microsoft (NASDAQ:MSFT) software ecosystem. In fact, AvePoint has won Microsoft’s “Partner of the Year” award on five separate occasions. Specifically, AvePoint helps companies migrate data to Microsoft 365.
Given how much market share Microsoft Office has had over the years, it’s not surprising that AvePoint has found a huge market helping firms protect, secure and transfer their assorted data from offline locations into Microsoft’s cloud offering.
AvePoint Isn’t Just Another SPAC
Our own Will Ashworth recently had a great article on AvePoint. In writing about the company, he initially sought to prove that AvePoint was just another startup going public too quickly. But, as he quickly realized, AvePoint actually has a ton of experience and credibility that sets it apart from most SPACs.