Apollo Global Mgmt Inc Stock Price, News & Analysis

Spartan Acquisition Corp. III (NYSE: SPAQ) is set to finalize its business combination with Allego Holding B.V., a leading electric vehicle charging network, on March 16, 2022. Following this merger, Allego's ordinary shares and warrants will trade on the New York Stock Exchange starting March 17, 2022, under the symbols ALLG and ALLG.WS. Allego operates over 26,000 charging points across Europe and aims to enhance the EV charging infrastructure while remaining agnostic of vehicle models. This move marks a significant step in advancing sustainable transport solutions in Europe.

Brightspeed has chosen KGPCo as its strategic supply chain and logistics partner to support its planned $2 billion fiber optics transformation across 20 states. This partnership aims to enhance logistics and process optimization for materials and customer equipment, ensuring efficient field services. Brightspeed's initiative is set to reach up to three million homes and businesses over the next five years, marking a significant investment in rural and suburban broadband services. The company's operations will initially include assets from Lumen Technologies, pending acquisition by Apollo-managed funds.

Brightspeed has appointed Jeff Lowney as Executive Vice President and Chief Commercial Officer, effective immediately. Reporting to CEO Bob Mudge, Lowney will lead product and market strategies to advance the company's $2 billion fiber optics transformation plan, targeting up to 3 million homes and businesses over the next five years. Lowney's extensive experience includes leadership roles at Windstream and Lumen Technologies. Brightspeed aims to enhance broadband access and connectivity, bridging the digital divide across 20 states.

On March 9, 2022, Intrado Corporation announced the sale of its Flowroute business to BCM One. This divestiture is aimed at aligning strategic priorities between the two companies. Flowroute, a cloud-based communications platform, supports rapid voice and messaging service deployment. The net proceeds from the sale will be utilized to repay debt and for general corporate purposes. Financial advisers Q Advisors and LionTree Advisors contributed to this transaction, which underscores Intrado's focus on streamlining operations and enhancing its financial stability.

Allego Holding B.V. provided an operational update for January and February 2022, showcasing strong growth following its planned business combination with Spartan Acquisition Corp. III (NYSE: SPAQ). Key highlights include a 100% renewable energy supply delivering 10.25GWh monthly, an 83% increase in total charging sessions to 1.35 million, and a unique user growth of 63% year-over-year. The utilization rate for charging stations rose to 7.6%, despite a 17% price increase. The company remains well-positioned for growth amid increasing EV adoption across Europe.

Spartan Acquisition Corp. III (NYSE: SPAQ) shareholders approved the business combination with Allego Holding B.V., a leading European electric vehicle charging network, with 94% support at the March 8, 2022 meeting. The transaction is set to close during the week of March 14, 2022. Upon completion, the merged entity will be renamed Allego N.V., and its shares will trade under the ticker symbols "ALLG" and "ALLG.WS". Allego currently operates over 28,000 charging points across Europe and aims to expand its infrastructure to meet growing electric vehicle demands.

Limelight Networks (Nasdaq: LLNW) has announced an agreement to acquire Yahoo's Edgecast in an all-stock deal valued at $300 million, equivalent to 1x Edgecast's 2021 revenue. Following the acquisition, Limelight will rebrand as Edgio and is set to have combined revenues exceeding $500 million. The merger aims to enhance their edge computing solutions and expand market opportunities in cloud security, online video, and web applications, targeting a $40 billion total addressable market. Yahoo will hold approximately 31.9% of the new entity's shares.

Intrado Corporation has launched Spatial Insight, a map-based interface designed to improve the location accuracy of wireless emergency calls. Utilizing Apple’s Enhanced Emergency Data, the solution enhances Public Safety Answering Points (PSAP) workflows by providing real-time, high-integrity location data. This tool is offered at no cost to U.S. and Canadian PSAPs. With nearly 50% of 911 calls lacking critical location data, Spatial Insight aims to expedite emergency responses and reduce response times. The integration into existing systems ensures a seamless workflow for telecommunicators.

Apollo (NYSE: APO) announced the first close of its acquisition of Griffin Capital's wealth distribution business, now part of Apollo Global Wealth. The acquisition adds approximately 60 distribution professionals and enhances Apollo's reach in the wealth management sector, particularly in the independent channel. Cory Calvert will lead the Independent Broker Dealer for US Global Wealth. The transaction is expected to finalize by Q2 2022, pending approval from Griffin's stockholders. This move aligns with Apollo's strategy to expand its wealth management capabilities.