MergerMay 11, 2026, 04:39 PM
KORE to be Acquired for $726M; Reports Q1 Revenue $65.8M
AI Summary
KORE Group Holdings, Inc. announced it will be acquired by affiliates of Searchlight Capital Partners and Abry Partners in an all-cash transaction with an enterprise value of approximately $726 million. The proposed merger is expected to close in the second or third quarter of 2026, resulting in KORE becoming a private company. Concurrently, KORE reported its first quarter 2026 financial results, with revenue of $65.8 million and an 11% increase in total connections to 21.9 million. The company posted a net loss of $28.5 million, while Adjusted EBITDA increased to $15.4 million and Free Cash Flow grew to $2.7 million.
Key Highlights
- KORE to be acquired by affiliates of Searchlight Capital Partners and Abry Partners for approximately $726 million enterprise value.
- Proposed merger expected to close in Q2 or Q3 2026, making KORE a private company.
- Q1 2026 Revenue was $65.8 million, down $6.3 million YoY.
- Total Connections increased 11% YoY to 21.9 million.
- Net Loss was $28.5 million, an increase of $13.5 million YoY.
- Adjusted EBITDA increased 7% YoY to $15.4 million.
- Free Cash Flow increased to $2.7 million, up $2.1 million YoY.
- IoT Connectivity revenue increased by $2.3 million, while IoT Solutions declined.