Grenoble, December, 4th, 2024 - Kalray (Euronext Growth Paris: ALKAL), 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 & DPU Design").
Today, 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. Kalray 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 analysing capital opportunities related to its "Data Acceleration & 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.
ABOUT KALRAY
Kalray is a leading provider of hardware and software technologies and solutions for high-performance, data-centric computing markets, from cloud to edge.
Kalray provides a full range of products to enable smarter, more efficient, and energy-wise data-intensive applications and infrastructures. Its offers include its unique patented DPU (Data Processing Unit) processors and acceleration cards as well as its leading-edge software-defined storage and data management offers. Separated or in combination, Kalray's high-performance solutions allow its customers to improve the efficiency of data centers or design the best solutions in fast-growing sectors such as AI, Media & Entertainment, Life Sciences, Scientific Research, Edge Computing, Automotive and others.
Founded in 2008 as a spin-off of the well-known French CEA research lab, with corporate and financial investors such as Alliance Venture (Renault-Nissan-Mitsubishi), NXP Semiconductors or Bpifrance, Kalray is dedicated through technology, expertise, and passion to offer more: more for a smart world, more for the planet, more for customers and developers. www.kalrayinc.com
Disclaimer
This press release may contain forward-looking statements regarding the Company's objectives and outlook. These forward-looking statements are based on the current estimates and expectations of the Company's management and are subject to risks and uncertainties, including those described in Appendix 1 of the Management Board's report dated April 30th, 2024, available on the Company's website.
Readers' attention is particularly highlighted on the fact that the Company's current funding horizon is limited to March 1st, 2025[2]. The forward-looking statements mentioned in this press release may not be achieved due to these factors or other unknown risks and uncertainties, or those not currently deemed significant by the Company.
[1] See press release as of 19th September 2024 for further details
[2] See details in the press release dated September 19th, 2024 and October,31th, 2024
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