Apollo Global Mgmt Inc Stock Price, News & Analysis

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.

Brightspeed has announced the signing of a lease agreement for its corporate headquarters in Charlotte, North Carolina, set to occupy over 27,000 square feet in the Vantage South End building by the fourth quarter of 2022. This location will facilitate corporate functions like legal, marketing, and finance while supporting a network build across 20 states. The company plans to hire over 100 local employees. Brightspeed is investing $2 billion to enhance internet infrastructure, aiming to reach up to 3 million homes and businesses in five years, using acquired assets from Lumen Technologies (NYSE: LUMN).