Atlanta, March 28, 2023: KORE Group Holdings, Inc., a global leader in the Internet of Things (IoT) Solutions and worldwide IoT Connectivity-as-a-Service (IoT CaaS), has announced the signing of a definitive agreement to acquire Twilio’s IoT business unit as part of a growth strategy.
According to a press release, KORE revealed that as consideration for the acquisition, Twilio will receive 10 million shares of KORE common stock, which will represent approximately 11.5 percent 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
Image credit: KORE