KORE Group to Go Private in $726M All-Cash Buyout
Private equity firms Abry Partners and Searchlight Capital Partners have agreed to acquire KORE Group Holdings in an all-cash transaction valued at approximately $726 million, taking the NYSE-listed IoT provider private at $9.25 per share.
The buyers are already deeply embedded in KORE’s capital structure. Abry owns roughly 28% of the company’s outstanding common stock, while Searchlight holds all Series A-1 preferred shares — with an estimated $275 million liquidation preference — and warrants representing about 14% of the common stock on a fully diluted basis.
The $9.25 offer represents a 132% premium to KORE’s November 3, 2025 closing price, the day before Searchlight and Abry formally approached the company with an initial $5-per-share proposal. KORE disclosed the take-private letter on November 4.
“In addition to delivering immediate value to our stockholders, the partnership with Searchlight and Abry provides KORE with seasoned and strategically aligned investors to accelerate our vision as a private, customer-centric IoT leader,” said Ron Totton, CEO and President of KORE.
Rothschild & Co is acting as financial advisor and Richards, Layton & Finger, P.A. as legal advisor to the Special Committee. Troutman Pepper Locke LLP is serving as legal advisor to KORE. Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Searchlight. Kirkland & Ellis LLP is acting as legal advisor to Abry. TD Cowen is acting as financial advisor to Searchlight and Abry.