KORE Group Surges on $5.00 Per Share Take-Private Proposal
Shares in the IoT company jumped after major shareholders Searchlight Capital and ABRY Partners submitted a non-binding offer to acquire the firm.
Shares of KORE Group Holdings (NYSE: KORE) surged in trading on Tuesday after the Internet of Things (IoT) company announced it had received a non-binding proposal from two of its largest shareholders, Searchlight Capital Partners and ABRY Partners, to take the company private.
The all-cash offer of $5.00 per share represents a 25.6% premium to the stock's closing price of $3.98 on Friday, November 3, 2025. The news sent KORE's stock up 6.03% to close at $4.22 on Tuesday, as investors reacted to the potential buyout of the Atlanta-based connectivity provider.
In a statement released Tuesday morning, KORE confirmed the receipt of the unsolicited, non-binding letter. The company's Board of Directors has formed a Special Committee composed of independent directors to carefully review and evaluate the proposal. KORE cautioned that the discussions are in a preliminary stage and that “no decision has been made with respect to the Company’s response to the proposal.”
The offer comes from two investment firms with deep, long-standing ties to the company. ABRY Partners, a Boston-based private equity firm, has held a majority stake in KORE since 2014. More recently, Searchlight Capital made a $150 million strategic investment in KORE in November 2023, a move that also gave the firm two seats on KORE's Board of Directors.
Given that the proposal originates from the company's principal financial backers, who already exert significant influence, the offer is seen by analysts as a credible move to consolidate ownership and operate the company away from the pressures of the public markets. Taking the company private would allow for greater flexibility in long-term strategic planning and investment without the quarterly scrutiny of public shareholders.
KORE specializes in providing the complex connectivity and services that underpin the Internet of Things, a sector that requires significant and sustained capital investment to maintain a competitive edge. The company offers solutions across a range of industries, including healthcare, logistics, and industrial IoT.
According to the company’s press release, the Special Committee has retained independent financial and legal advisors to assist in its evaluation process. The company stated it does not intend to disclose further developments unless and until it determines that further disclosure is appropriate or required.
The stock's closing price of $4.22 remains below the $5.00 offer price, suggesting that while the market has priced in a higher probability of a deal, there is still some uncertainty regarding its eventual approval and completion. The non-binding nature of the offer means the firms could walk away or alter the terms following a due diligence process. The path forward will be determined by the recommendation of the Special Committee and a subsequent vote by shareholders.