KORE to Acquire Twilio's IoT Business Unit

KORE Group and worldwide IoT Connectivity-as-a-Service announced the signing of a definitive agreement to acquire Twilio's IoT business unit as part of a growth strategy to provide customers with a unified, seamless approach to launching IoT solutions as the world's leading pure-play IoT provider.

As consideration for the acquisition, Twilio, the customer engagement platform that drives real-time, personalized experiences for today's leading brands, will receive 10 million shares of KORE common stock, which will represent approximately 11.5% of KORE's issued and outstanding shares.

This acquisition will bring to market:

A powerful connectivity suite, including best-in-class 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 award-winning 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 and breadth of digital experience

Completion of the acquisition transaction is subject to customary closing conditions, including, among other things, the negotiation and execution of certain ancillary agreements.