KORE Wireless to Acquire RacoWireless

KORE Wireless Group, Inc., a leading global provider of managed M2M communications services, announced the acquisition, in an all-cash transaction, of RacoWireless, a company recognized for its experience and reputation for making IoT/M2M easy by providing end-to-end connectivity solutions. Following the completion of this transaction, the combined company will have offices in five countries and serve more than 3 million subscribers on behalf of over 1,500 customers using services in more than 110 markets around the world.

KORE also announced that ABRY Partners, a private equity investment firm in North America, has acquired a majority interest in KORE. This investment, established in conjunction with the current KORE partners, provides growth and acquisition capital that will allow KORE to further its goal of creating the pre-eminent independent provider of broad-based M2M service solutions on a global basis.

According to KORE, the combined organization is primed to deliver, in short order, an unprecedented portfolio of connected technology, location-aware solutions, and management tools in a way that has never before been experienced in the industry. The acquisition is subject to completion of certain regulatory and other consents, and is expected to close in the fourth quarter of 2014.

Keywords: Wireless Communications, M2M, IoT, ARC Advisory Group.