KLTR - Kaltura stock rises 4% after board rejects Panopto's unsolicited offer

• Kaltura ( NASDAQ: KLTR ) stock rose 4.3% on Friday after the firm rejected Panopto's unsolicited offer , saying it "significantly undervalues" the company.
• The board said the bid is not in the best interests of shareholders.
• "We believe strongly in our strategy and ability to generate substantial long-term value for shareholders, as well as in our outlook for returning to profitable growth, and have recently taken cost-reduction and re-organization measures to accelerate it," KLTR's board said in a statement.
• KLTR last month adopted a stockholder rights plan after receiving Panopto's unsolicited proposal.

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