KORE Announces Agreement to be Acquired by Searchlight Capital Partners and Abry Partners
Rhea-AI Summary
KORE (NYSE:KORE) agreed to be acquired by Searchlight Capital Partners and Abry Partners for $9.25 per share in cash, valuing the deal at approximately $726 million. The price represents a ~691% premium to the Dec 18, 2024 unaffected price and a 132% premium to Nov 3, 2025.
The Special Committee and full Board unanimously approved the transaction, which is expected to close in Q2 or Q3 2026, subject to stockholder votes, HSR and CFIUS clearances. The deal is not conditioned on financing.
Positive
- Cash buyout at $9.25 per share
- Implied $726 million transaction value
- 691% premium to Dec 18, 2024 closing price
- Transaction not subject to financing condition
- Expected close in Q2–Q3 2026
Negative
- Company will go private, eliminating public market liquidity
- $275 million Series A-1 liquidation preference favors Searchlight
- Deal requires HSR and CFIUS clearances, adding closing risk
Market Reaction – KORE
Following this news, KORE has gained 79.44%, reflecting a significant positive market reaction. Our momentum scanner has triggered 3 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $8.99. This price movement has added approximately $39M to the company's valuation. Trading volume is exceptionally heavy at 14.0x the average, suggesting very strong buying interest.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.
Key Figures
Market Reality Check
Peers on Argus
KORE was down 1.57% pre-announcement while peers showed mixed moves (e.g., SURG up 9.64%, FNGR down 3.31%), indicating company-specific dynamics rather than a sector-wide move.
Previous Acquisition Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 04 | Acquisition proposal | Positive | +6.6% | Non-binding $5.00 per share cash proposal from major shareholders. |
Limited same-tag history: the prior acquisition proposal headline saw a positive price move aligned with the news.
This announcement follows a strategic review that began after a non-binding proposal on November 4, 2025 to acquire KORE for $5.00 per share. Since then, KORE reported Q3 2025 results showing flat revenue and improved losses, while highlighting strategic IoT positioning. Today’s definitive all-cash agreement at $9.25 per share and equity rollovers by existing holders represents the progression of that review into a formal buyout.
Historical Comparison
Past acquisition-related headlines moved KORE about 6.64% on average, evolving from a non-binding $5.00 proposal to a definitive all-cash agreement at $9.25 per share.
Progression from a non-binding $5.00 per share proposal in 2025 to a definitive, board-approved all-cash acquisition at $9.25 per share in 2026.
Market Pulse Summary
The stock is surging +79.4% following this news. A strong positive reaction aligns with the sizeable cash premium, given the offer of $9.25 per share versus a pre-announcement price of $5.01. Historical acquisition headlines previously produced a positive move, and this definitive agreement follows that pattern. Investors would need to watch regulatory approvals, required shareholder votes, and any competing bids or changes to terms as potential risks to the deal spread.
Key Terms
iot technical
warrants financial
committee on foreign investment in the united states (cfius) regulatory
voting and support agreement regulatory
all-cash transaction financial
AI-generated analysis. Not financial advice.
KORE shareholders to receive
The purchase price represents a
The members of the KORE Board of Directors voted unanimously in favor of the transaction, at a special meeting by all members present, and was based on the recommendation of a Special Committee of the Board consisting solely of independent directors and advised by independent financial and legal advisors. The Special Committee was established to, among other things, evaluate the advisability and fairness of strategic alternatives to the Company and its stockholders (including unaffiliated stockholders of the Company). Upon closing, KORE will operate as a privately-held company.
Abry is presently the beneficial owner of approximately
"We are pleased to have reached this agreement with Abry and Searchlight, which unlocks significant value for our stockholders at a substantial premium," said Ron Totton, KORE's Chief Executive Officer and President. "This agreement follows a comprehensive review of strategic alternatives by the Special Committee, which unanimously determined this transaction to be the optimal path forward. In addition to delivering immediate value to our stockholders, the partnership with Searchlight and Abry provides KORE with seasoned and strategically aligned investors to accelerate our vision as a private, customer-centric IoT leader. Both firms have an exceptional track record of helping their portfolio companies foster the growth and innovation required to be an industry leader with a loyal and satisfied customer base."
Timothy Donahue, Chairman of KORE's Board of Directors and Chairman of the Special Committee, said, "The KORE Board explored numerous strategic alternatives and carefully considered the best way to position KORE for long-term success. We strongly believe that the transaction with Searchlight and Abry was the best option to position KORE in the IoT marketplace and deliver the highest value to the Company's stockholders."
Transaction Details, Approvals and Timing
Closing of the transaction is conditioned upon, among other things, approval of the holders of a majority of the voting power represented by the outstanding shares that are entitled to vote thereon and approval by the holders of a majority of the votes cast by stockholders other than Searchlight and Abry, Board members who are affiliated with Searchlight and Abry and certain Company officers, receipt of regulatory approvals, including clearance under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976, as amended, and by the Committee on Foreign Investment in
In addition, concurrent with the signing of the merger agreement, Cerberus Telecom Acquisition Holdings, LLC, the SPAC sponsor, executed and delivered a voting and support agreement with KORE in favor of the transaction. Searchlight and Abry also executed and delivered, and certain other stockholders holding not more than 2,500,000 shares of common stock of the Company will be asked to execute and deliver, voting, support and rollover agreements with KORE in favor of the transaction. The voting agreements would terminate upon termination of the merger agreement in accordance with its terms for KORE to accept a superior offer and upon certain other circumstances.
The closing of the transaction is not subject to a financing condition. KORE expects the transaction to close during the second or third quarter of 2026.
Advisors
Rothschild & Co is acting as financial advisor and Richards, Layton & Finger, P.A. as legal advisor to the Special Committee. Troutman Pepper Locke LLP is serving as legal advisor to KORE. Wachtell,
About KORE
KORE is a pioneer, leader, and trusted advisor delivering mission critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers' business outcomes. For more information, visit korewireless.com.
About Searchlight
Searchlight is a global private investment firm with more than
About Abry
Abry Partners is one of the most experienced and successful sector-focused private equity investment firms in
More information about Abry Partners: www.abry.com
Additional Information and Where to Find It
In connection with the proposed merger, KORE intends to file a proxy statement with the SEC in connection with its solicitation of proxies regarding the stockholder vote to approve the merger. KORE and Parent also intend to jointly file a transaction statement on Schedule 13E-3. KORE STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT, AS MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, THE PROXY CARD, THE SCHEDULE 13E-3 AND ANY OTHER RELATED MATERIALS FILED WITH THE SEC WHEN THESE DOCUMENTS BECOME AVAILABLE BEFORE MAKING ANY DECISION WITH RESPECT TO THE MERGER, BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS AND THE PARTIES THERETO. Stockholders of KORE will be able to obtain a free copy of these documents (when they become available) and other documents filed by KORE with the SEC at the SEC's website at www.sec.gov. In addition, KORE stockholders will be able to obtain a free copy of the proxy statement and all related documents filed by KORE with the SEC (when they become available) from KORE's website at www.korewireless.com.
Participants in the Solicitation
KORE and its directors, executive officers and other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from KORE's stockholders in connection with the proposed transactions. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of certain of KORE's executive officers and directors in the solicitation by reading KORE's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the SEC on April 30, 2025, and its definitive proxy statement for the 2025 annual meeting of stockholders, which was filed with the SEC on April 30, 2025 (the "2025 Proxy Statement"). To the extent that holdings of KORE's securities have changed since the amounts printed in the 2025 Proxy Statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC.
Additional information regarding the interests of such individuals in the proposed merger, which may, in some cases, be different than those of KORE's stockholders generally, will be included in the proxy statement relating to the proposed merger when it is filed by KORE with the SEC. These documents (when available) may be obtained free of charge from the SEC's website at www.sec.gov and KORE's website at www.korewireless.com.
Forward-Looking Statements
In addition to historical information, this press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include both implied and express statements regarding the completion of the transaction and timing for closing; the execution and delivery of voting, support and rollover agreements; the receipt of regulatory approvals; the benefits expected from the transaction; and KORE's current expectations and projections relating to its future performance and business following closing. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of KORE to differ materially from the historical results or from any results expressed or implied by such forward-looking statements. Risks that could cause actual results to differ materially from those in the forward-looking statements include: the risks that the transaction will not close in the timeframe expected, or at all; the risk that the expected benefits and effects of the transaction will not be achieved; the risk that the requisite number of KORE stockholders fail to approve the transaction; the risk that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; the risk that KORE's business will suffer due to uncertainty related to the transaction; and other general economic and business risks. For a discussion of other risk factors that may impact KORE's business, please see KORE's filings with the SEC. KORE disclaims any obligation or duty to update or modify these forward-looking statements.
No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Contacts
KORE CONTACT:
Vik Vijayvergiya
VP, Investor Relations
Email: vvijayvergiya@korewireless.com
SEARCHLIGHT CONTACT:
Prosek
pro-searchlight@prosek.com
ABRY CONTACT:
FGS Global
abry@fgsglobal.com
(212) 687-8080
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SOURCE KORE Group Holdings, Inc.
FAQ
What is the per-share price and total value of the KORE (KORE) acquisition announced Feb 27, 2026?
How large is the premium in the KORE sale to Searchlight and Abry compared to prior trading prices?
When is the KORE (KORE) deal expected to close and what approvals are required?
Will KORE shareholders receive cash or stock, and what happens to KORE’s public listing after closing?
Do Searchlight or Abry already own stakes in KORE prior to the Feb 27, 2026 agreement?
Is the closing of the KORE acquisition dependent on financing from Searchlight or Abry?
