The IoT business unit of a customer engagement platform company has been acquired by a global provider of IoT connectivity-as-a-service.
Kore has signed a definitive agreement to buy Twilio’s IoT business unit after noticing a paradigm shift in how technology companies will proceed in the decade of the internet of things (IoT) over the past year. Kore cited the divestiture of IoT business units by companies like Google Cloud, Amazon, and Ericsson, as well as new partnerships formed to better support the delivery and scaling of IoT.
As a market leader in providing mission-critical IoT services, Kore asserts that its IoT expertise and experience, worldwide footprint, purpose-built services, and deployment agility can hasten and significantly influence business outcomes.
As the world’s top pure-play IoT provider, Kore has seen IoT usage “explode” across all industries and views the purchase of Twilio’s IoT unit as a component of a growth strategy to offer customers a “unified, seamless” approach to launching IoT offerings. Twilio will pay 10 million shares of Kore common stock, or about 11.5% of the company’s issued and outstanding shares, as payment for the purchase.
The purchase aims to market what Kore claims will be a new connectivity suite, including “best-in-class” eSIM technologies with Kore OmniSIM and Twilio Super SIM, and what is referred to as a one-stop-shop for developing, deploying, managing, and scaling IoT operations throughout the entire lifecycle via “award-winning” technologies and “world-class” facilities.
Additionally, it is claimed to offer accelerated time to market thanks to 24/7, global customer assistance and 20 years of IoT expertise from Kore and the Twilio IoT team.