Key Takeaways
- • Searchlight Capital Partners and Abry Partners completed a take-private acquisition of KORE Group Holdings at $9.25 per share in an all-cash transaction valued at approximately $726 million, ending the company's NYSE listing.
- • KORE shareholders received a 691-700% premium to the unaffected stock price, reflecting significant value creation from the private equity partnership.
- • Searchlight had previously established a strategic stake in KORE with a $150 million investment in non-convertible preferred stock in late 2023, positioning itself for the eventual buyout.
- • The completed transaction includes a newly established $300 million term loan and $25 million revolving credit facility to support KORE's operations as a private company.
- • KORE Group, an Atlanta-based Internet of Things (IoT) connectivity provider, transitions to private ownership after the acquisition closed on July 16, 2026.
Summary
Searchlight Capital Partners and Abry Partners have successfully completed their take-private acquisition of KORE Group Holdings, an Atlanta-based IoT connectivity services provider. The transaction closed on July 16, 2026, with shareholders receiving $9.25 per share in an all-cash deal valued at approximately $726 million. This represents a substantial premium of 691-700% to KORE's unaffected stock price prior to the acquisition announcement, delivering significant shareholder value. The deal ends KORE's tenure as a public company trading on the New York Stock Exchange under ticker symbol KORE.
Searchlight Capital Partners, a private equity firm managing approximately $15 billion in assets under management with operations across the United States, United Kingdom, and Canada, led the acquisition alongside Abry Partners, a Boston-based PE firm founded in 1989 that specializes in communications, media, information, and business services sectors. Searchlight's involvement in KORE predates the current transaction; the firm made a strategic $150 million investment in non-convertible preferred stock in late 2023, effectively positioning itself as a significant stakeholder ahead of the take-private transaction.
To support KORE's ongoing operations as a private company, the acquiring consortium has established a $300 million term loan facility and a $25 million revolving credit facility, providing liquidity and financial flexibility for the business. The transaction represents a typical private equity consolidation play in the IoT services sector, where both investors identified strategic value in KORE's market position and operational structure under private ownership.
Searchlight Capital Partners, a private equity firm managing approximately $15 billion in assets under management with operations across the United States, United Kingdom, and Canada, led the acquisition alongside Abry Partners, a Boston-based PE firm founded in 1989 that specializes in communications, media, information, and business services sectors. Searchlight's involvement in KORE predates the current transaction; the firm made a strategic $150 million investment in non-convertible preferred stock in late 2023, effectively positioning itself as a significant stakeholder ahead of the take-private transaction.
To support KORE's ongoing operations as a private company, the acquiring consortium has established a $300 million term loan facility and a $25 million revolving credit facility, providing liquidity and financial flexibility for the business. The transaction represents a typical private equity consolidation play in the IoT services sector, where both investors identified strategic value in KORE's market position and operational structure under private ownership.
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