TLV Recap - 4 January
With another round of layoffs, Kaltura could be regretting turning down a $3/share offer it rejected in September
eToro promotes insider to CFO
Israel-headquartered trading and multi-asset investment platform eToro promoted its VP of Finance, Meron Shani, to Group CFO, news outlet Finance Magnates reported, citing Shani’s post on LinkedIn.
Shani replaces Shalom Berkovitz who was serving as eToro's CFO and deputy CEO.
Kaltura sets second round of layoffs in less than six months
Video creation and distribution company Kaltura (NASDAQ:KLTR) will cut its headcount by about 11% after reducing its workforce by 10% last August.
Management rejected a $3/share takeover bid from rival Panopto in September, stating “We believe strongly in our strategy and our ability to generate substantial long-term value for shareholders.”
Its shares closed Wednesday at $1.95 a piece.
In November, Keybanc analysts put their bear case target price at $1.78, and bull case at $2.76.
TLV Strategist covered Kaltura’s problems back in March 2022. At that time, the share price had sunk to $2.09 from its IPO $14 high.
OPC Energy unit to buy 81.5 MW wind-powered electricity power plants in US
OPC Energy's (TLV:OPCE) unit CPV Group has agreed to buy four operating wind-powered electricity power plants in Maine, US for a total of $172 million of which 50% will be financed through external financing, OPC said in a TASE filing.
The power plants have an aggregate capacity of 81.5 MW.
Solaredge buys IoT platform company Hark Systems
Solaredge Technologies (NASDAQ:SEDG) signed a definitive agreement to buy UK-based IoT platform company Hark Systems for an undisclosed sum, the Israeli solar tech maker said in a press release.
The transaction is expected to be completed in Q2.
Hark offers an IoT platform allowing enterprises and asset operators to connect, analyze and optimize industrial assets and energy in their commercial sites.
Solaredge said the acquisition will allow it “to offer its commercial and industrial (C&I) customers expanded capabilities in energy management and connectivity, including identification of potential energy savings, detection of anomalies in assets’ energy consumption, and optimization of energy usage and carbon emissions through load orchestration and storage control.”
StoreDot appoints auto industry veteran Forster as chairman
StoreDot appointed automotive industry veteran Carl-Peter Forster as chairman, effective immediately, the Israeli developer of lithium-ion batteries for EVs said in a press release.
Forster had previously served as CEO of Tata Motors and held senior roles at Geely, Volvo and BMW.
StoreDot said the appointment is part of its global expansion plans and a step toward “even closer ties with the global automotive industry.”
StoreDot plans to start producing fast-charging battery cells that would offer 100 miles in 5 minutes.
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