NEW YORK, Sept. 02, 2022 (GLOBE NEWSWIRE) — Kaltura Inc. KLTR announced today that its board of directors (the “Board”), after a careful and thorough review conducted in consultation with its independent financial and legal advisers, unanimously determined that Panopto’s previously published non-binding, unsolicited offer, Inc. , a private company owned by K1 Investment Management, LLC, in which Panopto would acquire all outstanding common stock of the company from Kaltura at a purchase price of $3.00 per share in cash, Kaltura is and is significantly undervalued Not in the best interests of shareholders.
In connection with the proposal, the Board issued the following statement:
“Kaltura’s Board of Directors is open to all opportunities to maximize shareholder value and is fully committed to acting in the best interests of Kaltura and our shareholders. After careful consideration and consideration, we have concluded that the offer from K1 and Panopto Kaltura is materially undervalued and does not recognize either the strength of our company today or our compelling prospects for the future and is therefore not in the best interests of our shareholders.”
“We have strong beliefs in our strategy and our ability to create significant long-term value for shareholders and in our prospects to return to profitable growth, and have recently undertaken cost-cutting and reorganization measures to accelerate this.”
About Kaltura
Kaltura’s mission is to power every video experience for every organization. Our Video Experience Cloud offers live, real-time, and on-demand video products for businesses across all industries, as well as specialized industry solutions, currently for education, media, and telcos. Underlying our products and solutions is a wide range of media services that are also used by other cloud platforms and companies to enable video experiences and workflows for their own products. Kaltura’s Video Experience Cloud is…
