KORE Group Holdings, Inc. ("KORE" or the "Company"), a global provider of Internet of Things ("IoT") connectivity, solutions and analytics, today announced the successful completion of its acquisition by affiliates of Searchlight Capital Partners, L.P. ("Searchlight") and Abry Partners ("Abry").

Record holders of KORE's common stock should refer to the letter of transmittal and related instructions distributed by the Company's paying agent for more information regarding exchanging shares of their common stock for the per share merger consideration. For any questions, please contact the Company's paying agent, Continental Stock Transfer & Trust Company, at 1-800-509-5586. No action is required for shares held in "street name" to receive the merger consideration.

With the completion of the transaction, KORE common stock will cease trading prior to market open and will be delisted from the New York Stock Exchange.

The transaction begins a new chapter for KORE, bringing together nearly three decades of IoT leadership with the long-term investment and sector expertise of Searchlight and Abry.

"KORE is perfectly positioned to seize this opportunity. Going private lets us move faster, think bigger, and invest more boldly in what matters most to our customers," said Ron Totton, President and Chief Executive Officer of KORE. "For nearly three decades, we've helped customers navigate the complexity of global IoT connectivity. With Searchlight and Abry as partners, we're building an even stronger company — for our customers, our partners, and our people."

"For our customers and partners, the message is simple: the people, expertise, and relationships they count on aren't changing. What's changing is our speed and our ability to invest in innovation, respond to our customers' evolving needs and expand how we help organizations connect, manage, and scale IoT deployments worldwide," continued Totton.

"I want to thank KORE's public company board of directors for their years of service and commitment. As KORE enters its next chapter of growth, we are excited to partner with Abry, Ron and the KORE team to support the Company's long-term growth and commitment to its customers," said Andrew Frey of Searchlight.

"The next phase of IoT will be defined by a significant increase in connected devices and global complexity," said Rob MacInnis of Abry. "KORE is built for this environment. Its international reach, experience and connectivity capabilities give the Company a strong platform to help customers simplify their IoT complexity and scale with confidence. Together with Searchlight, we look forward to supporting KORE's next chapter."