The IoT business unit of a customer engagement platform company has been acquired by a global provider of IoT connectivity-as-a-service.
Kore signed a definitive contract to purchase Twilio’s IoT Business Unit after noticing that technology companies have changed their approach in the decade of internet of things in the last year. Kore pointed to the divestiture by Google Cloud, Amazon and Ericsson of their IoT businesses, as well as the formation of new partnerships that better support delivery and scaling IoT.
Kore, a leader in the provision of mission-critical IoT Services, asserts that their IoT expertise, experience, global footprint, custom-built services and deployment agility, can accelerate and significantly impact business outcomes.
Kore, the top pure-play IoT company in the world, has seen IoT usage “explode”, across all industries. The purchase of Twilio IoT is part of Kore’s growth strategy, which aims to provide customers with a “unified and seamless” approach when launching IoT products. Twilio is paying 10 million Kore shares or approximately 11.5% of Kore’s outstanding and issued shares as payment for this purchase.
The purchase aims at marketing what Kore claims to be a “new connectivity suite”, including “best in class” eSIM technology with Kore OmniSIM, Twilio Super SIM and what’s referred to as a “one-stop-shop” for developing, deploying and managing IoT operations through the entire lifecycle using “award winning” technologies and facilities of “world-class”.
It is also claimed that it offers a faster time to market due to the 24/7 global customer support and 20 years IoT experience from Kore IoT and Twilio IoT.
