Alternative Capital Group acquires VC-backed Kaloom

Alternative Capital Group has acquired a majority interest in Kaloom, a Montreal-based provider of programmable and automated cloud networking solutions.

Alternative Capital Group has acquired a majority interest in Kaloom, a Montreal-based provider of programmable and automated cloud networking solutions. No financial terms were disclosed. Kaloom previously raised financing from Fonds de solidarité FTQ, MBUZZ Investments, Somel Investments and other investors.

PRESS RELEASE

MONTREAL, May 20, 2021 /CNW Telbec/ – The management of Alternative Capital Group Inc. (ACG) is pleased to announce the closing of a transaction whereby it becomes the majority shareholder in KaloomTM Inc., a Quebec-based company that has developed innovative edge computing solutions.

“ACG is very proud to take an equity stake in KaloomTM and intends to support the company with its current and future financial needs,” says Claude Delage, President of ACG. “We were impressed by the vision of the founder and his management team. The KaloomTM team’s deep understanding of the challenges faced by major telecoms and data processing firms has enabled them to develop innovative solutions to address those challenges. KaloomTM’s value proposition in this fast-growing industry is recognized worldwide. The game plan for continued growth is clear.”

KaloomTM founder Laurent Marchand is staying on as CEO while Stéphane Boisvert is joining the company as President, with responsibility for deploying a global ecosystem of KaloomTM technology resellers.

“We appreciate ACG’s expertise,” says Laurent Marchand, CEO of KaloomTM. “They quickly grasped our company’s specific business environment and came up with appropriate solutions to help fuel our global growth. ACG’s strategic vision and its experience in capital markets will give KaloomTM what it lacked in its drive to quickly become a global leader and an industry pacesetter.”

“KaloomTM’s solutions are already attracting keen interest from major telecoms and data processors,” says KaloomTM’s new president Stéphane Boisvert. “We plan to set up a network of partners around the world and ACG will provide us with the support and resources we need to do it quickly.”

The edge computing revolution
Edge computing is a technology that sites computing and data storage closer to where the data is needed, improving response time, and reducing users’ bandwidth requirements. Although it is a relatively new concept, industry experts predict edge computing will overtake cloud computing in the 21st century and the market will exceed US$4 trillion by 2030.

KaloomTM’s edge computing solutions are revolutionizing ways to bring data processing and users into closer proximity. These solutions are advantageous because they deliver unprecedented efficiencies in response time, bandwidth usage, capital costs and power consumption. They are a strategic plus for all major telecom and data processing players worldwide.

About Kaloom™
KaloomTM is delivering a fully programmable and automated cloud-native edge center networking software solution that will disrupt how distributed cloud edge and data center networks are built, managed, and operated by Telecom, Fixed and Mobile Operators, Data Center and Cloud Service Providers. Its solutions have been concept tested by a number of major users worldwide and have been selected by all organizations that have tested them. KaloomTM is based in the Quartier de l’innovation in Montréal, Quebec and in Silicon Valley. For additional information visit www.kaloom.com.

About Alternative Capital Group Inc.
Alternative Capital Group is registered with the Autorité des marchés financiers of Quebec as an exempt market dealer. The firm invests directly in private companies and then designs and executes capital market strategies to ensure their viability and growth. It also offers its community of accredited investors the opportunity to participate in various private placements with attractive risk-return profiles. For more information, visit https://www.alternativecapitalgroup.ca/en/