KORE completes Twilio IoT acquisition

  • June 7, 2023
  • Steve Rogerson
  • KORE

IoT connectivity firm KORE has completed its acquisition of Twilio’s IoT business unit.

KORE and Twilio, a customer engagement platform that drives real-time, personalised experiences for brands, announced in March that the two organisations had agreed the acquisition.

KORE issued Twilio ten 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,” said KORE CEO Romil Bahl. “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 an IoT hyperscaler, the mission of KORE is to make deploying and managing IoT easier, just as cloud service hyperscalers have done with computing and storage.

KORE has enriched its portfolio of services that simplify the complexities of IoT adoption with a connectivity suite, including eSIM technologies with its OmniSIM and Twilio Super SIM. It has created one-stop-shop for building, deploying, managing and scaling IoT operations across the entire lifecycle. This should lead to an accelerated time to market through global, round-the-clock customer support and 20 years of IoT experience through the two teams.

With the added ability of build to the deploy, manage and scale proposition, KORE can address every touchpoint across the IoT journey, simplifying what can be a fragmented IoT ecosystem between hardware, connectivity, data communication, computing and analytics.

KORE is granting equity inducement awards to 18 employees of Twilio covering an aggregate of up to more than 1.7 million shares of KORE common stock as a material inducement to such employees to commence employment with KORE.

Across 180 countries, millions of developers and hundreds of thousands of businesses use Twilio to create experiences.