Kore (NYSE:KORE, KORE WS), an Atlanta, GA-based Internet of Things (“IoT”) Solutions and worldwide IoT Connectivity-as-a-Service provider, acquired Twilio‘s IoT business unit.
As consideration for the acquisition, Twilio (NYSE:TWLO) will receive 10 million shares of Kore common stock, which will represent approximately 11.5% of its issued and outstanding shares. Completion of the acquisition transaction is subject to customary closing conditions, including, among other things, the negotiation and execution of certain ancillary agreements.
The acquisition will bring to market:
- A connectivity suite, including eSIM technologies with Kore OmniSIM and Twilio Super SIM
- A one-stop shop for building, deploying, managing, and scaling IoT operations throughout the entire lifecycle via technologies and world-class facilities
- An accelerated time to market through global, 24/7 customer support and 20 years of IoT experience through KORE and the Twilio IoT team’s depth of digital experience
Led by President and CEO Romil Bahl, Kore enables organizations to improve operational and business results by simplifying the complexity of IoT.
FinSMEs
28/03/2023