Apollo Global Mgmt Inc Stock Price, News & Analysis

Newbond Holdings has announced the acquisition of the Westin Tampa Waterside hotel in partnership with Apollo Funds, managed by Apollo Global Management (NYSE: APO). This acquisition involves a 309-key hotel asset in Downtown Tampa, following a $17 million renovation. Newbond aims to capitalize on Tampa's growing hospitality market and enhance the asset's potential, benefiting from its prime waterfront location. The deal aligns with Apollo's strategy to acquire quality real estate below replacement costs, amidst a significant $3 billion redevelopment nearby.

Apollo Global Management (NYSE: APO) has successfully acquired Yahoo, previously known as Verizon Media, marking a significant transition as Yahoo becomes a standalone entity under Apollo's management. Verizon retains a 10% ownership stake in Yahoo. Apollo aims to enhance Yahoo's offerings and user experience, tapping into its extensive user base of nearly 900 million monthly active users. Both Reed Rayman from Apollo and Yahoo's CEO Guru Gowrappan expressed optimism for future growth and innovation, signaling a new era for the iconic brand.

TD SYNNEX has successfully completed its merger, combining SYNNEX Corporation and Tech Data Corporation under the new entity TD SYNNEX. This merger enhances its global distribution capabilities across over 100 countries and strengthens its product offerings in key technology segments. Led by Rich Hume, the company aims to deliver superior value and innovation to its customers and vendors. Apollo Global Management received 44 million shares and $1.1 billion in cash through the merger.

Funds managed by Apollo Global Management announced a $150 million equity commitment to FlexGen Power Systems, a leader in energy storage technology. This investment aims to enhance FlexGen's growth and market position in the energy transition sector, where storage solutions are essential for integrating renewables reliably. FlexGen has deployed over 1.2 GWh of storage systems and offers advanced software solutions for energy management. Apollo's investment follows a series of investments in clean energy ventures, underscoring their commitment to supporting renewable energy advancements.

Apollo (NYSE: APO) has appointed Noah Gunn as Managing Director and Global Head of Investor Relations. Gunn will oversee the firm's investor relations strategy and engagement with stakeholders, reporting to CFO Martin Kelly. He previously held a similar role at Athene Holding, where he was instrumental during its merger with Apollo. With a background in equity research at prominent banks, Gunn aims to enhance communication with shareholders. As of June 30, 2021, Apollo managed approximately $472 billion in assets.

Intrado Corporation has partnered with Interprefy to enhance its webcasting platform by offering real-time audio interpretation in 26 languages, allowing clients to reach global audiences effectively. This partnership integrates seamlessly with Intrado's award-winning webcasting solution, facilitating cost-effective, on-demand interpretation for virtual and hybrid events. The initiative aims to foster engagement and inclusivity, as event planners increasingly seek ways to connect with diverse audiences. Intrado's recent acquisition of Hubb further strengthens its position in the event management technology sector.

Intrado Corporation has acquired Hubb, a leader in hybrid event management technology, enhancing its position in the omnichannel event marketplace. This acquisition provides an end-to-end solution for in-person, virtual, and hybrid events, empowering clients with comprehensive data management and analytics to improve engagement and ROI. Forrester rated Hubb as a Leader in B2B Marketing Events Management. The integration aims to create an innovative platform for seamless event experiences, leveraging both companies' strengths for future growth.

Apollo Global Management (NYSE: APO) announced the appointment of Vikram Mahidhar as Operating Partner to enhance the firm's Data & Digital Transformation initiatives within its APPS platform. Mahidhar will lead efforts to drive digital transformation across Apollo's Private Equity portfolio using advanced analytics and AI. His previous experience includes a Senior VP role at Genpact. This strategic move is part of Apollo's broader initiatives aimed at enhancing operational capabilities and delivering strong financial performance across its portfolio.