Israeli startup Cellebrite, a leading digital intelligence solutions provider, will soon be listed on the NASDAQ through an SPAC merger with TWC Tech Holdings II Corp. Cellebrite anticipates a $2.4 billion valuation from its IPO and will be listed as CLBT.
This initial public offering is expected to Provide up to $480 million of gross cash proceeds to the company, including a fully committed $300 million PIPE for the purchase of shares from early investors in the company.
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But before anyone pops the champagne bottles it should be remembered that Kaltura just backed out of its own planned multi-billion dollar NASDAQ IPO. Israeli video startup Kaltura expected to make a whopping splash in the market with a $2 billion NASDAQ IPO. But the company was forced to suspend its plans due to a lack of interest. While Kaltura and Cellebrite are in very different fields of operation, what just happened to Kaltura should be taken as a possible warning sign for any planned IPOs.
Cellebrite develops tech that allows law enforcement agencies, among others, to decrypt or hack into smart phones. Cellebrite says that it enables investigators to capture insights in today’s complex, digital world. The company boasts that its digital intelligence platform provides a “complete and objective picture of evidence, empowering agencies and investigators to solve and close cases faster than ever.”
The company declares that its mission is to enable its customers to protect and save lives, accelerate justice and preserve privacy in communities around the world. Cellebrite’s management team will continue to operate the business with Yossi Carmil serving as Chief Executive Officer.
Cellebrite Generated Revenues of Approximately $195 Million and Gross Margins of Approximately 80% in Fiscal 2020 and Projects Revenues of Approximately $283 Million and Gross Margins of Approximately 81% in Fiscal 2022
Cellebrite intends to go public through a merger with TWC Tech Holdings II Corp. Through this merger, we will advance our mission to empower our customers to protect and save lives, accelerate justice and preserve privacy. Learn More: https://t.co/AGWbkDtn0z pic.twitter.com/k1KfuHwKtp
— Cellebrite (@Cellebrite) April 8, 2021
Yossi Carmil said, “Cellebrite’s vision is to provide industry-leading technology and a holistic DI solution that enables our customers to transform and digitize their entire investigative process. Today marks an exciting step for our company and team, and will put us in an even better position to capture the opportunities ahead. As a result of the transaction, we will seek to build upon our leadership position by making strategic, targeted investments to expand our capabilities, deepen our position in the public sector and attract new customers in the growing private sector market.”
“At Cellebrite, we are most passionate about the positive, meaningful outcomes our work enables for the powerless, threatened and underserved. Importantly, we recognize the immense responsibility that comes with operating a business that partners with law enforcement agencies but protects the privacy of citizens. To that end, Cellebrite and our Board have a deep commitment to creating a safer world and to operating in a lawful and ethical manner that is unwavering.”