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Global IoT provider KORE collaborates with Cerberus Telecom Acquisition Corp to provide in-house IoT services

Global IoT provider KORE collaborates with Cerberus Telecom Acquisition Corp to provide in-house IoT services
The Siliconreview
16 March, 2021

KORE Wireless Group, Inc., a market leader in the Internet of Things solutions and worldwide Connectivity-as-a-Service (CaaS), and an exceptional purpose acquisition firm affiliated to Cerberus Capital Management, in a recent announcement, has stated both have entered into a definitive merger agreement. Once the transaction is completed, the company expects to be listed on the New York Stock Exchange under the ticker symbol "KORE."

A world-class management team leads KORE with extensive leadership and experience. Through its strategic combination, the firm will provide CTAC's executives and advisor network with robust operating expertise in the information and communications technology sector. The company is also taking part in the 5G revolution by bringing in new technologies that leverage powerful IoT, CaaS, and IoT-based solutions.

The firm is powered by a strong IP portfolio and has a differentiated IoT platform. It delivers mission-critical IoT enterprise solutions and CaaS services to more than 3,600 customers worldwide, including Fortune 500 enterprises. The company manages over 12 million connected devices and serves vivid industries with a global IoT market forecasted to grow to nearly $1 trillion by 2025. KORE is well-positioned to expand its organic growth and accretive acquisitions.