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Appgate has successfully completed its merger with Newtown Lane Marketing, now trading as NTWN on the OTC Bulletin Board. Following the merger on October 12, 2021, Appgate plans to uplist to Nasdaq or the NYSE in Q1 2022. Magnetar Financial has invested an additional $25 million in convertible notes, boosting its total investment to $75 million, reflecting a $1 billion post-money valuation. Appgate aims to lead in Zero Trust security solutions as it supports over 600 clients, adapting to the evolving cybersecurity landscape.
Appgate has partnered with Rackspace Government Solutions to deliver its Zero Trust Network Access solution, Appgate SDP, to U.S. government entities through a FedRAMP JAB-approved environment. This service aims to enhance cybersecurity for complex IT ecosystems, allowing secure access in compliance with government standards. Appgate SDP, recognized as a leader in the field, offers various deployment models, ensuring flexibility for federal customers. The collaboration addresses rising demands for improved cybersecurity, underscoring the importance of a Zero Trust approach.
Appgate has been recognized as a Leader in The Forrester New Wave™: Zero Trust Network Access, Q3 2021, showcasing its strength in providing Zero Trust Network Access solutions. Notably, Appgate received the highest rating in six key criteria, including deployment flexibility and product vision. With a customer satisfaction score of 9.5/10, Appgate's strength lies in its hybrid IT solutions, designed to adapt to modern cyber threats. The company is set to become public following its merger with Newtown Lane Marketing (OTC-PINK: NTWN) expected in Q4 2021.
Newtown Lane Marketing and Appgate have signed a definitive merger agreement, aiming to enhance Appgate's growth and market strategies. The transaction includes a $100 million investment in convertible notes at a $1 billion post-money valuation. Appgate, recognized for its Zero Trust cybersecurity solutions and a customer base of over 650, is set to become public, with an expected Nasdaq or NYSE listing. The merger is anticipated to close by Q2 2021, positioning Appgate for significant growth in the cybersecurity market, projected to reach $38 billion by 2025.
