Security Firm Appgate To Go Public At $1B Valuation Via Merger
Becoming publicly traded just a year after its formation by merging with a shell company will allow secure access vendor Appgate to accelerate its growth, scale and go-to-market strategies, the company said. By Michael Novinson February 09, 2021, 01:22 PM EST
Secure access vendor Appgate plans to go public at a $1 billion valuation just a year after its formation by merging with a shell company.
Coral Gables, Fla.-based Appgate said becoming a publicly traded company will provide quick access to significant financial resources to accelerate growth, scale and go-to-market strategies. Appgate was spun out from data center vendor Cyxtera in January 2020, and expects to generate revenues of $40 million this year with a compound annual growth rate (CAGR) of 50 percent over the next half-decade.
It depends who you ask.
Last Tuesday, Baldelli-Hunt told councilors during a work session that she’s seen interest from “significant investors” in her proposal to develop Barry Field. While she did not share the names of the investors in the meeting, she said she looks forward to getting the council’s opinion so the parties involved can make some decisions.
“We don’t want to go any further in having even more interest without knowing if there’s an appetite from everyone who needs to play a part in that,” she said.
The proposal goes back to 2016, when Baldelli-Hunt announced plans to relocate the city’s athletic fields to Cass Park, freeing up Barry Field for development. Located at the corner of Park Avenue and Smithfield Road, the 22-acre athletic parcel is close to Route 146, making it an enticing option for those looking to build from the ground up.
12/30/2020
2020: A year of coming together
Employees and volunteers with Woonsocket High School hang signs commemorating the Class of 2020 on the fence around Barry Field on May 29. From left are Dean of Students Peter Medeiros, Dean of Students Chad Lamoureux, Jeff Cormier, Jackson Cormier, Tony Ramos, Tony Cosentino and Paul Marshall. (Breeze file photo by Lauren Clem)
While 2020 will always be remembered as the year of the pandemic, it’s also the year residents of northern Rhode Island came together in an unprecedented show of support for their neighbors and friends. Much of this kindness was directed at healthcare workers, first responders and others who faced seemingly insurmountable challenges as the pandemic took hold. From drive-in graduations to socially distanced parades, here are some of our favorite ways the community came together in 2020.