Apollo Global Management, Inc. - APO STOCK NEWS

Brightspeed has announced a major fiber optics network build in Texas, aiming to reach over 120,000 potential customers by the end of 2023. This initiative is part of a $2 billion investment to enhance internet connectivity in multiple states, with plans to expand to a total of 280,000 fiber passings in Texas. The project is linked to the acquisition of Lumen Technologies' assets by Apollo-managed funds, subject to regulatory approval. The initiative is set to bring faster internet services to various communities, boosting broadband access significantly.

Intrado Corporation has launched the Sonic G3 Edge Compute, enhancing 911 call handling for Public Safety Answering Points (PSAPs). This appliance allows calls to be taken from any location and ensures connectivity with 4G/5G redundancy during outages. Integrating with the existing Power 911 software, the Sonic G3 offers improved resilience and functionality. Key benefits include localized call recording and reduced operating costs by up to 25%. Demonstrations are taking place at the NENA Expo on June 13-14, 2022, in Kentucky.

Apollo announced an agreement to acquire Cardenas Markets, a prominent grocery retailer serving the Hispanic community, from KKR. This acquisition will merge Cardenas with Tony's Fresh Market, creating a large Hispanic-focused grocer with approximately $1.8 billion in combined revenues. The two companies will maintain their brands while leveraging complementary strengths. Cardenas operates 59 stores across three states. The transaction is expected to close by Q3 2022, though financial terms remain undisclosed.

Moleaer has successfully closed a $40 million Series C funding round led by Apollo (NYSE: APO), bringing its total funding to $61 million. The capital will be utilized to enhance the deployment of Moleaer’s proprietary nanobubble technology, aimed at addressing climate change and water scarcity across various industries. This technology has already treated over 500 million gallons of water daily and improved crop yields by up to 56%. Moleaer aims to make its nanobubble technology standard in water-based industrial processes, enhancing sustainability while reducing costs.

Intrado Corporation has launched the Intrado Power Access, a cloud-enabled solution designed for Public Safety Answering Points (PSAPs). This flexible tool aims to improve call-handling efficiency amid the challenges posed by Next Generation 911 and increasing call volumes. Key features include a browser-based visualization tool, advanced call-handling capabilities, and integration of third-party data for enhanced situational awareness. Demonstrations of Power 911 Web are scheduled at the NENA Expo on June 13-14, 2022. Intrado is controlled by affiliates of funds managed by Apollo Global Management (NYSE: APO).

Brightspeed announced plans to construct a fiber optics network in North Carolina, targeting over 300,000 new fiber passings across more than 30 counties by the end of 2023. The initiative is part of a broader $2 billion investment aimed at reaching up to 3 million homes and businesses over five years, including an additional 500,000 fiber passings. The project is linked to the acquisition of Lumen Technologies' assets by Apollo-managed funds, with expectations for regulatory approval in Q3 2022.

Apollo Global Management (NYSE: APO) announced that Co-President Jim Zelter will present at the Morgan Stanley US Financials, Payments & CRE Conference on June 14, 2022, at 1:00 pm ET. A live webcast of the event will be available on the Apollo website, with a replay accessible afterward. As of March 31, 2022, Apollo has around $513 billion in assets under management, focusing on providing clients with excess returns across various investment strategies, including yield, hybrid, and equity.

Intrado Corporation has launched its conversational AI solution, Mosaicx, on Google Cloud Marketplace. This technology offers advanced customer service capabilities by understanding conversational intent, unlike traditional systems that rely on menus. Mosaicx aims to enhance customer experience, reduce costs, and generate revenue through a Google Cloud-based framework. The solution combines a communication gateway, speech engine, and orchestration framework, enabling customers to interact naturally through voice or text. Mosaicx also supports outbound messaging for marketing and appointment reminders.