The privately held KORE is a major global M2M network connectivity service provider - offering complete global coverage through GSM, CDMA and satellite data services.
The acquisition is expected to push KORE to further its goal of creating the pre-eminent independent provider of broad-based M2M service solutions on a global basis. The combined organization is primed to deliver a portfolio of connected technology, location-aware solutions, and management tools.
Alex Brisbourne, CEO of KORE
We are standing at a historic inflection point in our industry where scalability and innovation are critical, and the financial partnership with ABRY delivers the capital and expert support necessary to rapidly develop the scale demanded by global customers in what has so far been a fragmented market. Strategic acquisitions both in advanced connectivity and richer applications solutions are an important goal, as scale and global reach are of paramount importance to our large applications and enterprise customers. These customers seek to leverage new M2M technologies that enable more efficient, innovative, and in some cases, disruptive business models going forward
John Horn, President of Raco who will become the Executive Vice President and Chief Strategy Officer of KORE
This acquisition is a great fit between two companies that have been pioneers in this space. This is a unique opportunity that will redefine the IoT/M2M industry, and create a company that has the right scale and focus to shape the course of the Internet of Things.
