The Dutch semiconductor manufacturer NXP will bring 8 million euros of equity to Grenoblois Kalray, on the occasion of a reserved capital increase, according to a press release released on Thursday. This is a significant investment given the size of the Grenoble-based company, whose capitalization stood at 72 million euros at the end of the day on the Paris Bourse.
NXP will subscribe for 503,461 new Kalray shares, at a unit price of 15.89 euros, or more or less the closing price of the security on Thursday (15.90 euros). At the end of the transaction, NXP will hold 9.95% of the capital and voting rights of Kalray, specifies the text. The Dutch group will thus become the company’s second shareholder.
“Deploy a common hardware and software platform”
Emanation of the French Atomic Energy and Alternative Energies Commission (CEA) founded in 2008 and listed on the stock market ten years later, Kalray develops on-board microprocessors specially designed for new “intelligent” computer systems, because they are both very powerful and energy efficient. Kalray and NXP announced a partnership a year ago ” in order to develop and deploy a common, secure, reliable and scalable hardware and software platform for autonomous vehicles ”, recalls the French company.
The funds provided by NXP will be used in particular to finance the investments necessary for the implementation of this partnership, she explains. In the current context of the global health crisis, the funds available to the group should enable it to deploy its strategy “Beyond the next twelve months”, he also assures.