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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. ....

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