Kore Group to be Acquired by Searchlight and Abry for $726 Million

Kore Group, Searchlight Capital Partners, L.P. and Abry Partners, each a global private investment firm, announced that they have entered into a definitive agreement and plan of merger under which Searchlight and Abry will acquire all of the shares of Kore's issued and outstanding common stock that are not currently owned by them in an all-cash transaction valued at approximately $726M. Abry is presently the beneficial owner of approximately 28% of the company's issued and outstanding shares of common stock, and Searchlight also is the holder of all of the company's issued and outstanding Series A-1 preferred stock and the holder of warrants to purchase approximately 14% of the company's shares of common stock, on a fully diluted basis. Under the terms of the Agreement, Searchlight and Abry will acquire all issued and outstanding shares of Kore common stock not already owned by them at an all-cash price of $9.25 per share. The closing of the transaction is not subject to a financing condition. Kore expects the transaction to close during the second or third quarter of 2026.