The partnership targets the explosive opportunity for new use cases for cellular connectivity and Internet of Things solutions
ATLANTA – June 9, 2021) – KORE, a global leader in Internet of Things (“IoT”) solutions and worldwide IoT Connectivity-as-a-Service (“CaaS”), and Koch Strategic Platforms, LLC, a subsidiary of Koch Industries, Inc., announced today that they have entered into a relationship to explore new use cases for Internet of Things (IoT) technology.
“Koch Strategic Platforms is the natural innovation partner for us because it already has a fundamental interest in making 5G, computing and connectivity come to life to advance the world around us, especially as we enter the decade of IoT,” said KORE President and CEO Romil Bahl. “We bring complementary skills to the table, which will help revolutionize IoT use cases and accelerate real-world adoption.”
The two organizations are exploring IoT solutions to solve pressing issues facing society. Potential applications include technology to address the health and safety of people in public spaces, enable manufacturers and plants to increase sustainability, and improve supply chains to make global commerce more efficient.
“Koch Strategic Platforms is excited to explore new opportunities in the connectivity space with KORE. As Koch companies continue to transform, we will be able to test solutions in real time across a variety of applications around the world,” said Adam DeWolf, managing director for Koch Strategic Platforms.
KORE is a pioneer, leader, and trusted advisor delivering mission-critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers’ business outcomes. For more information, visit www.korewireless.com.
About Koch Strategic Platforms
With offices in Atlanta and Wichita, KSP desires to be the preferred investment partner of growth focused, strategic companies who are innovating in industries with disruptive potential. Created in 2020, the KSP team pursues public and private investments with companies where long-term mutual benefit can be realized.
Jean Creech Avent
Vice President, Investor and Public Relations
Matt Glover and Cody Slach
Gateway Group, Inc.
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations. These statements are based on various assumptions and on the current expectations of KORE’s management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE’s business and the timing of expected business milestones; changes in the assumptions underlying KORE’s expectations regarding its future business; the effects of competition on KORE’s future business; and the outcome of judicial proceedings to which KORE is, or may become a party. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE’s expectations, plans or forecasts of future events and views as of the date of this press release. KORE anticipates that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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