End of Negotiations Between Kalray and Pliops

Kalray, Inc. announces the termination of negotiations as part of its planned merger with Israeli company Pliops Ltd.

Economic conditions, and in particular financial market trends, were not conducive to finalizing a capital-intensive combination that would create value for shareholders.

However, the management teams of the 2 companies remain convinced that their technological strengths will complement each other to offer unified, cutting-edge solutions for generative AI (GenAI) and data acceleration in the storage sector. The parties will therefore study commercial ways of combining Pliops’ KV technology with Kalray’s MPPATM architecture.

In the short term, Kalray’s management is focused on the successful execution of its existing roadmap for its hardware and software platform to seize the many opportunities offered by the growing demand for disruptive data-intensive processing solutions. The company confirms that, in view of the current sales pipeline, it expects growth in annual revenue for FY24, with a very strong growth in 2FH24 compared to 1FH24.

Trends are also very promising in the medium term following the approval, in 1FH24, of the use of Kalray’s new-gen TC4 accelerator card in the next-gen product of a leading American player in the industry. As announced, volumes expected from this Jumbo contract totals €100 million over the next 5 years.