Kalray Initiated Strategic Review of the Assets
Few months following failed merger with Pliops
This is a Press Release edited by StorageNewsletter.com on December 12, 2024 at 2:01 pmKalray, a leader in hardware and software technologies dedicated to the management and intensive processing of data from the Cloud to the Edge, is launching a strategic review of its assets.
In September, Kalray announced an organizational action plan focused on cost reductions (1), currently being implemented, as well as the addition of a ‘design-on-demand’ for acceleration solutions within its historic business of DPU development (Data Acceleration and DPU Design).
Kalray announces that its supervisory board has authorized the executive board, chaired by Eric Baissus, to undertake a comprehensive review of the company’s strategic options, including the possibility of a full or partial divestiture of certain Group activities. The company is exploring the most suitable legal framework to facilitate these potential operations.
In this context, Kalray has engaged an independent investment bank based in the United States, Woodside Capital Partners International LLC, which specializes in the semiconductor sector and high-growth companies. The bank has been tasked with assisting the company in analyzing capital opportunities related to its ‘Data Acceleration and DPU Design’ business.
At this stage, there is no assurance that these efforts will result in any specific outcome. The Company will keep its shareholders informed about the progress of this process.
(1) See press release as of 19th September 2024 for further details
Comments
And the day after (12/5/2024), the company issue a second press release (only in French) related to the total number of voting rights and shares. We also see that a combined general meeting is scheduled December 29th, 2024 according to the company calendar.
The H1/2024 financial results has been published 19/9 and we let our readers judge of the situation.
It is clearly mentioned the press release above (3rd paragraph) that a partial or full exit is under consideration. An independent investment bank based in the United States, Woodside Capital Partners International LLC, has been contracted to investigate options. We'll see where this story will land... but it appears to be a serious and pressed operation.
The failed merger with Pliops illustrates difficulties the company faced for several years. Things have been masked by strange moves. We published an article a few months ago when the combination idea has been placed in the public zone.
What a trajectory, how is it possible with brilliant independent board members who have very strong track records?
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