Acquisition reinforces AvePoint’s dedication to continued worldwide growth, enabling organizations in South Korea to collaborate with confidence within the trendy office
JERSEY CITY, N.J., Oct. 11, 2022 (GLOBE NEWSWIRE) — AvePoint (NASDAQ: AVPT), probably the most superior SaaS and knowledge administration platform supplier, as we speak introduced it accomplished its acquisition of Essential Co. Ltd. (Essential), a South Korea-based software program options supplier that can advance AvePoint’s capacity to allow organizations to speed up data-driven digital transformation.
AvePoint is the catalyst of business transformation for over 9 million cloud customers worldwide, empowering organizations to safe their digital collaboration knowledge, maintain connections between individuals and guarantee business resiliency. The acquisition of Essential helps AvePoint’s growth into the fast-growing South Korean cloud software program market, the place income within the public cloud market is predicted to present a compound annual development price of 18.78% via 2027.
“This geographic expansion allows us to enable South Korean enterprises and public sector customers, and partners with our cloud platform bring their services and products closer to their end customers,” mentioned Dr. Tianyi Jiang (TJ), Co-Founder and CEO, AvePoint. “Essential has built a strong base of South Korean customers that are seeking to transform their legacy technology infrastructure as global cloud service providers continue to invest in the country. As the digital journey continues to accelerate, this move enables us to better scale to meet the demand and support South Korean organizations.”
Founded in 2018 and headquartered in Seoul, South Korea, Essential works with giant enterprises within the nation – together with Samsung Electronics, LG Chemical, Hyundai Motors and Coupang – to accomplish their digital transformation objectives. Essential’s direct and channel gross sales business mannequin will present AvePoint the muse needed to additional develop extra routes to market.
“We are excited to join AvePoint,” mentioned Sean Kim, CEO, Essential. “We have watched the company’s continued technology innovation and see a great opportunity to be a trusted partner to organizations throughout South Korea as they address their digital transformation initiatives. We were looking for the right synergy of technology and people, and we’ve found that with the AvePoint team.”
For extra info, go to www.avepoint.com.
About AvePoint
Collaborate with Confidence. AvePoint gives probably the most superior platform for SaaS and knowledge administration to optimize SaaS operations and safe collaboration. More than 9 million cloud customers depend on our options. Our SaaS options are additionally obtainable to managed service suppliers through greater than 100 cloud marketplaces, to allow them to higher assist and handle their small and mid-sized business prospects. Founded in 2001, AvePoint is a five-time Global Microsoft Partner of the Year and headquartered in Jersey City, New Jersey. For extra info, go to https://www.avepoint.com.
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Forward Looking Statements
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Media Contact
Nicole Caci
AvePoint
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(201)-201-8143
