KORE Group Holdings, Inc. (KORE/KORE WS), a globally renowned company in Internet of Things (‘IoT’) Solutions and worldwide IoT Connectivity-as-a-Service (‘IoT CaaS’), 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 (TWLO), the customer engagement platform that drives real-time, personalised experiences for today’s major brands, will receive 10 million shares of KORE common stock, which will represent approximately 11.5% of KORE’s issued and outstanding shares.
