NEW YORK, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Kaltura ("Kaltura" or the "Company") (NASDAQ:KLTR), the Video Experience Cloud, today announced the appointment of John Doherty as Chief Financial Officer, effective March 1, 2024, succeeding Yaron Garmazi in the role. Mr. Doherty will join Kaltura on February 1, 2024, and Mr. Garmazi will continue to support him and the Company throughout the second quarter of 2024 as well to provide a smooth transition.

Mr. Doherty brings more than three decades of financial and operational experience. Most recently he served as Chief Financial Officer and Chief Operating Officer at Magic Leap, Inc, a private augmented reality device company that has raised more than $4 billion from leading investors such as Fidelity, JP Morgan, Google, AT&T, Qualcomm, Alibaba, NTT Docomo, Temasek, and the Public Investment Fund of Saudi Arabia. Prior to joining Magic Leap in 2020, Mr. Doherty served as Chief Financial Officer at InterXion Holding N.V., a $6+ billion publicly traded data center services provider, from 2018 to 2020, until its acquisition by Digital Reality for $8.4 billion. Prior to that Mr. Doherty held a variety of senior financial and operational roles at Verizon Communications Inc., including Senior Vice President of Corporate Development and President and Chief Investment Officer at Verizon Ventures from 2013 to 2018, SVP Investor Relations from 2010 to 2013, and multiple divisional CFO roles prior to that.

"I would like to thank Yaron for his partnership and significant contribution over the past seven years, including transitioning Kaltura to a public company," said Ron Yekutiel, Co-founder, Chairman and Chief Executive Officer at Kaltura. "Yaron is a leader and friend to all of us at Kaltura, and we are grateful for his ongoing support and wish him well as he continues his successful career."

Mr. Yekutiel continued, "John is a talented executive with a very impressive track record of financial and corporate development leadership at large publicly traded enterprises. I am delighted to welcome him to our team. John's skillset and background are ideally fitted to support our plans to return to profitable growth and to explore strategic opportunities that advance our commercial goals."

"I am privileged to join Ron and the Kaltura team at this exciting time," said Mr. Doherty. "Kaltura's position as the leading video experience cloud is a testament to the strength of its people and strategy, and I look forward to working closely with the team as we continue to reinforce our position in the market and plan for future growth."

About Kaltura

Kaltura's mission is to power any video experience for any organization. Kaltura's Video Experience Cloud offers live, real-time, and on-demand video products for enterprises of all industries, as well as specialized industry solutions, currently for educational institutions and for media and telecom companies. Underlying our products and solutions is a broad set of Media Services that are also used by other cloud platforms and companies to power video experiences and workflows for their own products. Kaltura's Video Experience Cloud is used by leading brands reaching millions of users, at home, at school, and at work, for events, communication, collaboration, training, marketing, sales, customer care, teaching, learning, and entertainment experiences. For more information, visit www.corp.kaltura.com.

Investor Contacts:

Kaltura, Inc.

Yaron Garmazi

Chief Financial Officer

IR@Kaltura.com

Sapphire Investor Relations, LLC

Erica Mannion and Michael Funari

IR@Kaltura.com

+1 617 542 6180

Media Contacts:

Kaltura, Inc.

Lisa Bennett

pr.team@kaltura.com

Headline Media

Raanan Loew

raanan@headline.media

+1 347 897 9276

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to, statements regarding our planned Chief Financial Officer transition, plans to return to profitable growth, and strategic opportunities.

In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "predict," "potential," "positioned," "seek," "should," "target," "will," "would" and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Any forward-looking statements contained herein are based on our historical performance and our current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent our expectations as of the date of this press release. Subsequent events may cause these expectations to change, and we disclaim any obligation to update the forward-looking statements in the future, except as required by law. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from our current expectations. Important factors that could cause actual results to differ materially from those anticipated in our forward-looking statements include, but are not limited to, our ability to successfully execute or achieve the expected benefits of our reorganization plans and other cost saving measures, our ability to manage and sustain our growth; our ability to achieve and maintain profitability; the evolution of the markets for our offerings; the quarterly fluctuation in our results of operations; our ability to retain our customers; our ability to keep pace with technological and competitive developments; our ability to maintain the interoperability of our offerings across devices, operating systems and third-party applications; our reliance on third parties; our ability to retain our key personnel; risks related to our international operations; risks related to geopolitical instability in the Middle East and Gulf region and their possible impact on global trade and financial markets; and the other risks under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the Securities and Exchange Commission ("SEC"), as such factors are updated in our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 and as may be updated from time to time in our other filings with the SEC, which are accessible on the SEC's website at www.sec.gov and the Investor Relations page of our website at investors.kaltura.com.

Kaltura Announces CFO Transition