Apollo Global Management, Inc. - APO STOCK NEWS

Message Broadcast has acquired West's Utilities Business from West Technology Group's CX360 division, following its previous acquisitions of AGENT511 and i2sms. West Utilities, established in 1989, provides call overflow and notification solutions for critical incidents like power outages. The platform serves over 40 U.S. and Canadian utilities, enabling customized inbound and outbound IVR workflow automation for high-volume call periods. The acquisition strengthens Message Broadcast's customer engagement software portfolio for the utility sector, focusing on outage alerts, payment reminders, and energy efficiency campaigns.

Apollo (NYSE: APO) has announced that its Impact and Clean Transition funds have acquired a majority stake in The State Group (TSG), a leading provider of electrical, mechanical, robotics, and automation services. Blue Wolf Capital will retain a minority stake alongside existing management shareholders. TSG, established in 1961, specializes in complex projects from newbuild to maintenance, helping customers optimize and decarbonize energy use. The company supports critical technology infrastructure in growing markets, including data centers. The transaction's financial terms were not disclosed.

Apollo (NYSE: APO) has expanded its Asia Pacific presence by opening a new office in Seoul and appointing Jay Hyun Lee as Partner and Head of Korea. Lee, bringing 25 years of financial services experience, will drive Apollo's capital formation strategy and institutional relationships in Korea. The firm has been operating in Asia Pacific for over 15 years, with offices across Tokyo, Sydney, Hong Kong, Mumbai, and Singapore since 2006. Additionally, Dr. Sam Young Chung from Yonsei University has been appointed as Academic Advisor to focus on retirement solutions and alternative assets.

Everi Holdings (NYSE: EVRI) announced that its stockholders have overwhelmingly approved the company's acquisition by Apollo Global Management funds. The deal, which includes the simultaneous acquisition of IGT's Gaming & Digital business, received 99.88% approval from voting shares, representing 71.48% of total outstanding shares. Stockholders will receive $14.25 per share in cash. The transaction is expected to close by the end of Q3 2025, subject to closing conditions.

Vega has raised $20 million in a Series A funding round led by Apollo and Motive to scale its technology platform, Vega AltOS. This follows an $8 million seed investment from Motive, Picus Capital, and Citi Ventures. Apollo, now an enterprise-scale anchor client, will use Vega AltOS for its institutional, family office, and global wealth channels. Additionally, Apollo will integrate Edna, an alternative employee investment platform with over $2 billion AUM, into Vega. Vega aims to revolutionize client service for alternative asset managers by providing a scalable, digitally-enabled platform for pre-trade, execution, and post-trade operations. The new funding and partnership with Apollo signify a major milestone in Vega's growth, aiming to standardize private markets client service infrastructure and drive industry-wide growth.

Cardinal Health (NYSE: CAH) announced two strategic acquisitions: a 71% stake in GI Alliance (GIA) for $2.8 billion and Advanced Diabetes Supply Group (ADSG) for $1.1 billion. GIA, the leading gastroenterology management services organization with over 900 physicians across 345 locations, will operate within Cardinal's Pharmaceutical and Specialty Solutions segment. ADSG, serving approximately 500,000 diabetes patients annually, will merge with Cardinal's at-Home Solutions business. Both acquisitions are expected to close in early 2025 and be accretive to revenue, segment profit growth, and non-GAAP EPS in the first 12 months post-closing.

Apollo (NYSE: APO) and Mubadala Investment Company have extended their multi-billion-dollar partnership focused on global origination opportunities. The extension strengthens Apollo's Capital Solutions business and origination capabilities across asset classes while providing Mubadala access to investment opportunities. Apollo announced a new target of reaching $275 billion of annual origination volumes in the next five years. The partnership builds on previous collaborations, including a $2.5 billion joint venture for global private credit opportunities and Mubadala's support in launching Apollo's middle market lending vehicle.

Apollo Global Management (NYSE: APO) has released its Q3 2024 financial results, highlighting strong performance across its platform. The company declared a cash dividend of $0.4625 per share of Common Stock, payable on November 29, 2024, and a $0.8438 per share dividend for Mandatory Convertible Preferred Stock, payable on January 31, 2025. CEO Marc Rowan emphasized the company's position as a next-generation financial services business and referenced growth plans presented at their recent Investor Day.

Concord has successfully closed an $850 million asset-backed securitization (ABS) backed by its music catalog, marking its third securitization offering. The notes are secured by royalties from a catalog of over one million songs, including works by renowned artists like The Beatles, Carrie Underwood, and The Rolling Stones. The catalog is valued at more than $5 billion, resulting in a 52% loan-to-value ratio. Apollo (NYSE: APO), through its Capital Solutions business, structured the ABS and led the investor syndicate. The notes received ratings of A+ from KBRA and A2 from Moody's. Proceeds will be used to retire the private 2023-1 note issuance, fund acquisitions, and support growth.