NXP Invests €8 Million in Kalray’s Massively Parallel Intelligent Processors
Kalray, a pioneer in processors for new intelligent systems, announced a strategic investment from NXP Semiconductors N.V. for €8 million, to enable the companies to develop together safe, reliable and scalable solutions for autonomous driving, combining NXP Automotive solutions and KALRAY MPPA (Massively Parallel Processor Array) Intelligent Processors.
The investment will be carried out through the reserved issuance to NXP BV, a company of the NXP Group, of 503,461 ordinary shares without pre-emptive rights for the existing shareholders of the Company. Upon settlement-delivery of the new shares, the NXP Group will hold about 9.95% of Kalray’s share capital and voting rights.
This transaction will strengthen the partnership between NXP and Kalray that has been announced one year ago at CES 2019 which is targeting the development and deployment of a L2 (Partial Driving Automation) to L5 (Full Vehicle Automation) common hardware and software platform, for a safe, reliable and scalable autonomous driving solutions.
The funds raised will be used to both finance Kalray’s resources and investments required by the implementation of the strategic partnership with NXP, and fund Kalray’s roadmap in support of Kalray’s automotive and embedded strategy.