KORE Group Holdings, Inc., the global pure-play Internet of Things (“IoT”) hyperscaler and provider of IoT Connectivity, Solutions and Analytics, announced the closing of the acquisition of Twilio’s IoT business unit.
KORE and Twilio previously announced on March 27, 2023, that the two organizations had entered into a definitive agreement for the acquisition. This acquisition positions KORE to drive the accelerated adoption of IoT.
As consideration for the acquisition, KORE issued Twilio, the customer engagement platform that drives real-time, personalized experiences for today’s leading brands, 10 million shares of KORE common stock, representing approximately 11.5% of KORE’s issued and outstanding shares.
“The Internet of Things has massive potential, and how efficiently and quickly it proliferates in the world depends upon the effectiveness and scalability of the distribution network,” KORE President and CEO Romil Bahl said. “With the acquisition of Twilio’s IoT business, we are making it even easier to achieve the benefits of IoT across thousands of use cases.”
As the world’s first IoT hyperscaler, the mission of KORE is to make deploying and managing IoT solutions easier, just as cloud service Hyperscalers have done with computing and storage.
KORE enriches its portfolio of services that simplify the complexities of IoT adoption:
A powerful connectivity suite, including best-in-class eSIM technologies with KORE OmniSIMTM and Twilio Super SIM®
A one-stop-shop for building, deploying, managing, and scaling IoT operations across 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 newly acquired Twilio IoT team’s depth and breadth of digital experience
With the added ability of “Build” to the “Deploy, Manage, and Scale” proposition, KORE can now address every touchpoint across the IoT journey, simplifying what can be a highly fragmented IoT ecosystem between hardware, connectivity, data communication, computing, and analytics.
