KORE has acquired Twilio’s IoT business unit to accelerate progress towards building the world’s first IoT hyperscaler.

The aim is to provide users with a unified, seamless approach to launching IoT.

Twilio’s customer engagement platform drives real-time, personalised experiences for brands. It will receive ten million shares of KORE common stock, which will represent approximately 11.5% of KORE’s issued and outstanding shares.

“IoT has immense potential to change the world,” said KORE CEO Romil Bahl. “Whether it is ushering in the Fourth Industrial Revolution, supporting chronic disease management through remote patient monitoring, or optimising agriculture and supporting sustainability, IoT has many powerful applications. Combining the digital prowess of Twilio’s IoT business and the comprehensive connectivity-analytics portfolio of KORE is a meaningful step towards proliferating IoT and making it more accessible and successful.”

He said KORE was thrilled to augment its best-in-class IoT connectivity-as-a-service (CaaS) offering with Twilio’s IoT talent and customer portfolio.

“This acquisition represents exactly the kind of investment we have said we are willing to make to become an exciting top-line growth company and, specifically, we will benefit from the world-class digital experience and developer community Twilio has built for its IoT business,” said Bahl.

This acquisition will bring to market a connectivity suite, including eSIM technologies with KORE OmniSIM and Twilio Super SIM. The two companies will provide a one-stop shop for building, deploying, managing and scaling IoT operations throughout the entire lifecycle.

They offer global, round-the-clock customer support and 20 years of IoT experience through KORE and the Twilio IoT teams’ depth and breadth of digital experience.

“We are just scratching the surface of the opportunities IoT can unlock for customers,” said Twilio’s head of IoT, Taylor Wolfe. “As a global leader in IoT, KORE has the right expertise, vision and technology to expand the robust offerings that Twilio’s world-class IoT team has built. KORE is the right home for Twilio’s IoT business, and we look forward to this acquisition increasing scalability and creating even more powerful business outcomes for our customers going forward.”

Completion of the acquisition transaction is subject to customary closing conditions, including the negotiation and execution of certain ancillary agreements.

Companies use Twilio’s CEP customer engagement platform to build direct, personalised relationships with their customers everywhere in the world. Twilio enables companies to use communications and data to add intelligence and security to every step of the customer journey, from sales to marketing to growth, customer service and many more engagement use cases in a flexible, programmatic way. Across 180 countries, millions of developers and hundreds of thousands of businesses use Twilio to create experiences for their customers.