Kore Group (KORE) announced the signing of a definitive agreement to acquire Twilio’s (TWLO) IoT business unit as part of a growth strategy to provide customers with a unified, seamless approach to launching IoT solutions as the world’s leading pure-play IoT provider. As consideration for the acquisition, Twilio will receive 10M shares of Kore common stock, which will represent approximately 11.5% of Kore’s issued and outstanding shares. Completion of the acquisition transaction is subject to customary closing conditions, including, among other things, the negotiation and execution of certain ancillary agreements.
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