Grenoble, January 2nd, 2025 - Kalray (Euronext Growth Paris: ALKAL) announces that it has received a non-binding letter of intent to acquire the assets of its "Data Acceleration Platform" activity and provides an update on its financial situation.
Kalray has announced a general review of its strategic options, including the possibility of asset disposals[1].
In this context, Kalray has received a non-binding letter of intent to acquire its "Data Acceleration Platform" activity (comprising the Ngenea product line, marketed to large corporations). The financial and legal audits are in progress. Subject to the final agreement of the parties on the terms of the transaction, the signing of the final contracts, which would be announced by press release, should take place by mid-February 2025. Completion of the asset sale would be subject to the usual conditions.
Kalray draws investors' attention to the fact that ongoing negotiations may or may not lead to completion of the transaction. The Company believes that, assuming completion at the beginning of 2025, taking into account other ongoing discussions with strategic partners and suppliers, Kalray's financing horizon, currently estimated at March 1st, 2025[2], subject to compliance with cash flow forecasts (including third-party payments ), would remain potentially unchanged.
This proposed disposal will not enable the Group to achieve its profitability target by the end of 2025. In view of its financial situation, Kalray will therefore continue to study opportunities for the disposal of all or part of its other assets and the most appropriate legal framework for their implementation.
Kalray will continue to keep the market informed of developments concerning the planned transaction(s).
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[3]. 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.
| INVESTOR RELATION CONTACTS Eric BAISSUS contactinvestisseurs@kalrayinc.com Phone +33 4 76 18 90 71 ACTUS Finance & Communication Anne-Pauline PETUREAUX kalray@actus.fr Phone + 33 1 53 67 36 72 | MEDIA CONTACTS ELLYN KALIFA communication@kalrayinc.com Phone. +33 4 76 18 90 71 ACTUS Finance & Communication Serena BONI sboni@actus.fr Phone +33 4 72 18 04 92 |
[1] See press release dated December 4th, 2024
[2] Cf. press releases dated September 19th, 2024 and October 31th, 2024 for further details
[3] See details in the press release dated September 19th, 2024 and October,31th, 2024
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https://www.actusnews.com/documents_communiques/ACTUS-0-89310-pr_kalray_information_project_disposal_en_final.pdf
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