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- Kore Group
Kore Group Acquisition, Valuation & Financials
Kore Group was acquired by Searchlight Capital Partners for $726M in February 2026, a 2.5x multiple on $286M of revenue.
Kore Group acquisition price
$726M
Acquired by Searchlight Capital Partners · Feb 2026
Kore Group revenue at acquisition
$286M
Last twelve months · Feb 2026
Kore Group revenue multiple at acquisition
2.5x
EV/Revenue · Feb 2026
Kore Group EBITDA multiple at acquisition
11.5x
EV/EBITDA · Feb 2026
Kore Group Overview
About Kore Group
Kore Group Holdings Inc provides Internet of Things (IoT) solutions and services. In addition to providing critical services to customers globally, it enables them to manage, deploy, and scale their IoT applications and use cases. It offers connectivity services, location-based services, device solutions, and managed and professional services for the development and support of IoT technology for the Machine-to-Machine market. It derives revenue from IoT Connectivity services, IoT Solutions services, SIMs (IoT Connectivity), and IoT devices (IoT Solutions). Geographically, the company generates the majority of its revenue from the United States and the rest from other countries.
Founded
2021
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription, Product sales
Revenue
$286M (Feb 2026)
Valuation
$726M (acquired Feb 2026)
Kore Group Acquisition
Kore Group was acquired by Searchlight Capital Partners for $726M on 26 February 2026.
The acquisition price implies a 2.5x revenue and 11.5x EBITDA multiple on $286M of revenue.
Before the acquisition Kore Group had raised $150M across 1 funding round.
| Acquirer | Date | Type | Price | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|
| 26 Feb 2026 | PE buyout | $726M | 2.5x | 11.5x |
Kore Group as a Public Company
Kore Group traded as NYS: KORE before it was taken private. Its acquisition was announced in February 2026. July 2026 is its last month on record as a listed company, with a market cap of $159M and an enterprise value of $429M.
Last-twelve-month revenue was $286M, with EBITDA of $63M (22% margin), and the shares traded at 1.5x EV/Revenue and 6.8x EV/EBITDA.
Over the 4 years before that, its market cap fell from $203M in July 2022 to $159M, while revenue grew from $259M to $286M.
Kore Group market cap while listed
Kore Group EV/Revenue (LTM) while listed
| As of | Market cap | Revenue (LTM) | EBITDA (LTM) | EBITDA margin | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Jul 2026 | $159M | $286M | $63M | 22% | 1.5x | 6.8x |
| Jul 2025 | $36M | $290M | $60M | 21% | 1.1x | 5.4x |
| Jul 2024 | $51M | $293M | $61M | 21% | 1.2x | 5.5x |
| Jul 2023 | $108M | $289M | $62M | 21% | 1.8x | 8.2x |
| Jul 2022 | $203M | $259M | $62M | 24% | 2.3x | 9.6x |
Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month Kore Group traded.
Kore Group Funding History
Kore Group has raised a total of $150M across 1 funding round.
Kore Group funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Nov 2023 | Strategic investment | Searchlight Capital Partners (lead) | $150M | KORE Group Holdings announced on 16 November 2023 the completion of a $150 million strategic equity investment by Searchlight Capital Partners, structured as non-convertible preferred stock with a ten-year maturity and a 13% annual dividend, alongside penny warrants issued to a Searchlight affiliate over 11.8 million common shares. The investment was made in conjunction with a refinancing in which Whitehorse Capital provided a $185 million five-year senior secured term loan replacing roughly $300 million of existing debt. Together the transactions cut total debt by close to $120 million, extended maturities into the second half of 2028, reduced annual cash interest by about $14 million and added roughly $15 million of cash, taking first lien leverage from 5.2 times to 3.2 times and total leverage from 7.3 times to 5.3 times. Searchlight appointed David Fuller and Andrew Frey to the KORE board as part of the agreement. KORE supplies internet-of-things connectivity, hardware and managed services to enterprises and had listed on the New York Stock Exchange in 2021. Searchlight later agreed, with Abry Partners, to acquire the whole company, a transaction that closed in July 2026. |
Who has invested in Kore Group?
1 investor has backed Kore Group across its funding rounds, including Searchlight Capital Partners.
Lead investors include Searchlight Capital Partners.
Kore Group Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Kore Group investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Kore Group
Kore Group has acquired 7 companies to date.
Last acquisition by Kore Group was on March 27th 2023. Kore Group acquired Twilio (IoT unit) for $15M.
Latest Acquisitions by Kore Group
| Description | Twilio's IoT unit is a San Francisco-headquartered provider of global cellular connectivity solutions for Internet of Things devices. The division offers Super SIM, a multi-network SIM card that supports over 190 countries with automatic carrier switching for reliable coverage. Twilio IoT serves applications in asset tracking, smart metering, and industrial sensors, integrating seamlessly with the company's broader cloud communications platform. | Business Mobility Partners is a distributor of enterprise mobility solutions offering hardware procurement, SIM provisioning, data sanitization, and device recycling services. Based in the United States, it manages distributed data for field workforces in logistics, healthcare, and sales, providing rugged devices, MDM integration, and end-of-life asset recovery compliant with standards like NIST. | SIMON IoT is a US-based cellular data provider offering flexible IoT connectivity plans with domestic and international roaming. Launched in 2018, it supplies SIM cards supporting LTE-M, NB-IoT, and 2G/3G/4G networks from carriers like AT&T and Vodafone. Month-to-month subscriptions start at low data rates for devices in tracking, metering, and telematics applications, backed by 24/7 support from its Austin headquarters. | Integron is a managed services provider for enterprise Internet of Things deployments in connected health, energy, and transportation sectors. It manages wireless connectivity, software-defined networks, security protocols, device provisioning, ongoing management, and technical support through established vendor partnerships spanning the IoT ecosystem. | |
| HQ Country | |||||
| HQ City | San Francisco, CA | New York City, NY | New York City, NY | Rochester, MN | |
| Deal Date | 27 Mar 2023 | 16 Feb 2022 | 16 Feb 2022 | 10 Dec 2019 | |
| Valuation | $15M | $71M | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Kore Group acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Kore Group Competitors
Kore Group competitors include listed companies like Sercomm and Queclink, and private ones like Tractian, Lanmi, BrightInsight and View.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $720M | - | ||
| Private | - | - | $716M | - | ||
| Private | - | - | $750M | - | ||
| Private | - | - | $700M | - | ||
| Publicly listed | $1.7B | $84M | $686M | 0.4x | ||
| Publicly listed | $133M | $12M | $812M | 4.3x |
Kore Group Public Comps
Kore Group is no longer listed, but its public comps include Sercomm, Queclink, Yuil Robotics, Intelligo Technology, Yunding Technology, Gemtek Technology, CE Info Systems, Ependion, People & Technology and Fixstars.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.7B | $84M | 0.5x | 0.4x | 9.8x | 8.8x | |||
| $133M | $12M | 5.1x | 4.3x | 54.1x | 30.6x | |||
| $27M | ($17M) | 21.7x | - | (35.4x) | - | |||
| $50M | $20M | 9.7x | 9.7x | 24.0x | - | |||
| $228M | $22M | 3.7x | - | 38.8x | - | |||
| $520M | $17M | 0.9x | - | 28.4x | - | |||
| $50M | $20M | 9.8x | 8.8x | 23.7x | 23.9x | |||
| $227M | $64M | 2.5x | 2.2x | 8.9x | 10.6x | |||
This data is available for Pro users. Sign up to see all Kore Group competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kore Group
| When was Kore Group founded? | Kore Group was founded in 2021. |
| Where is Kore Group headquartered? | Kore Group is headquartered in United States. |
| Is Kore Group publicly listed? | No, Kore Group was acquired by Searchlight Capital Partners in February 2026. |
| Who acquired Kore Group? | Kore Group was acquired by Searchlight Capital Partners in February 2026. |
| How much was Kore Group acquired for? | Kore Group was acquired for $726M in February 2026, a 2.5x revenue multiple. |
| How much funding has Kore Group raised? | Kore Group has raised $150M across 1 funding round. |
| What was Kore Group's last funding round? | Kore Group's last funding round was a $150M strategic investment round in November 2023, led by Searchlight Capital Partners. |
| Who are Kore Group's investors? | Kore Group's investors include Searchlight Capital Partners. |
| Which companies are comparable to Kore Group? | Companies comparable to Kore Group include Tractian, Lanmi, BrightInsight, View, Sercomm and Queclink. |
| What was Kore Group's market cap before the acquisition? | Kore Group had a market cap of $159M in July 2026, its last month on record as a listed company, trading at 1.5x EV/Revenue. |
| What was Kore Group's revenue as a public company? | Kore Group's last reported twelve-month revenue was $286M (July 2026), with EBITDA of $63M. |
| How many companies has Kore Group acquired? | Kore Group has acquired 7 companies, including Twilio (IoT unit), Business Mobility Partners, SIMON IoT, Integron and ASPIDER-NGI. |
| What was the largest acquisition by Kore Group? | The $175M acquisition of Wyless in March 2016 is the largest acquisition Kore Group has made to date. |
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