Apollo Global Mgmt Inc Stock Price, News & Analysis

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).

Apollo (NYSE: APO) has launched a sustainable investing platform, aiming to deploy $50 billion in clean energy and climate capital over the next five years, with a potential for over $100 billion by 2030. This initiative focuses on energy transition and decarbonization, capitalizing on Apollo's extensive experience in relevant sectors. Headed by Olivia Wassenaar, the platform seeks to reduce median carbon intensity by 15% on new control investments. Apollo's past investments in clean energy exceed $19 billion, underscoring its commitment to sustainability and strategic growth.

VICI Properties Inc. has successfully acquired the Venetian Resort Las Vegas for $4.0 billion, achieving a 6.25% cap rate. The transaction is financed through proceeds from share sales, a $600 million credit line, and cash reserves. This acquisition increases annual rent by $250 million under a 30-year lease with Apollo Global Management, which includes a rent escalation clause. The Venetian features extensive gaming, hospitality, and convention facilities, solidifying VICI's portfolio as a premier player in experiential real estate.

Apollo Global Management has successfully acquired The Venetian Resort and Venetian Expo in Las Vegas from Las Vegas Sands Corp. for approximately $2.25 billion. This transaction, initially announced in March 2021, positions Apollo to invest in enhancing guest experiences at this iconic property. Concurrently, the Apollo Funds entered a long-term, triple net lease agreement with VICI Properties, which purchased the associated land and real estate assets for $4.0 billion. This acquisition aims to capitalize on the Las Vegas recovery and growth potential.

Tenneco reported a 17% increase in total revenue for 2021, reaching $18.0 billion. Adjusted net income improved to $164 million, or $1.97 per diluted share, compared to a loss in 2020. However, Q4 revenue fell 6% year-over-year, totaling $4.4 billion, with a net loss of $35 million. The company achieved significant liquidity of $2.3 billion and improved its net leverage ratio to 1.0x. Tenneco has canceled its earnings call following a definitive acquisition agreement with Apollo and will not provide financial guidance for 2022 due to the pending transaction.