KORE to Acquire Twilio's IoT Business Unit and Accelerate Progress Towards Building the World's First 'IoT Hyperscaler'

KORE and Twilio have signed an agreement for KORE to acquire the IoT unit of Twilio, bringing best-in-class IoT customers and talent to KORE

ATLANTA, March 27, 2023 /PRNewswire/ -- KORE Group Holdings, Inc. (NYSE:KORE, KORE WS), a global leader in Internet of Things ("IoT") Solutions and worldwide IoT Connectivity-as-a-Service ("IoT CaaS"), announced today 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 (NYSE:TWLO), 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.