AvePoint eyes US$100 million in acquisitions to fast-track US$1 billion revenue target
The data management firm is also considering more stock buybacks and expanding its headcount
[SINGAPORE] Armed with a US$481 million war chest, data management 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.
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