ATLANTA (Dec. 29, 2021) – KORE (NYSE: KORE), a global leader in Internet of Things (IoT) Solutions and worldwide IoT Connectivity-as-a-Service (CaaS), is marking the end of a successful year with new solutions and accolades along with KORE’s listing on the New York Stock Exchange.
“It has been impressive how the KORE team has stayed focused on our transformation despite the pandemic and our ‘go public’ effort,” said Romil Bahl, President and CEO of KORE. “In 2021, we launched our first two industry practices, Connected Health and Fleet Management, and continued our leadership in IoT Connectivity with our modern technology platform, KORE One, and best-in-class IP in the areas of eSIM and core networks.”
New Enablement Solutions Help Propel IoT
KORE is a diversified enabler of end-to-end IoT Solutions and is investing in a series of pre-configured solutions to accelerate the deployment of customers’ IoT Applications.
Connected Health Telemetry Solution™KORE has recently launched its Connected Health Telemetry Solution™ (CHTS) to help simplify IoT deployments in key health care and life sciences segments, which is KORE’s largest industry sector. Target use cases for CHTS include remote patient monitoring, enabling decentralized clinical trials for contract research organizations, medical equipment diagnostics, and medical alert monitoring. CHTS allows healthcare solution providers and developers to easily leverage data telemetry services, while hiding the complexities associated with managing peripherals/gateways, pairing them and securely transmitting the data, which have previously been a significant roadblock in bringing solutions to market.
KORE Fleet: In-Vehicle Video
KORE introduced an innovative in-vehicle video solution with embedded artificial intelligence. The solution brings together a robust set of hardware options, device management tools, and API access – making it easier than ever for customers to deploy video-based fleet solutions. According to Automotive Fleet, 20 percent of a fleet’s vehicles experience unplanned downtime due to accidents. The combination of live-streaming video and active audible alerts reduces risky driver behavior, reduces accidents, and serves as an excellent training tool for fleet managers.
KORE has transformed the IoT connectivity landscape with its launch of KORE OmniSIM™. With advanced eSIM and multi-IMSI capabilities, customers can leverage global connectivity for out-of-the-box, “anywhere” connectivity that can be remotely and natively provisioned. Within the OmniSIM product suite, KORE released access to OmniSIM Reach – offering extensive access to nearly 600 networks in 198 countries through a centralized, multi-IMSI design and OmniSIM Rush – providing a powerful eSIM profile designed for high bandwidth performance. In 2022 KORE will release more customized and localized offerings within its OmniSIM product.
KORE Developer Portal
Launched in late 2021, KORE Developer Portal enhances the ability of solution providers to integrate development resources and tools quickly and efficiently in a self-service environment. The platform will not only provide a rich suite of Connectivity, Security, and Location-Based Services APIs; it also boasts streaming services that allow developers to directly enable feeds of any event inside of the KORE ecosystem.
The Industry Takes Note of KORE’s Impact
Throughout 2021, KORE has generated acclaim from several third-party organizations.
KORE was awarded an IoT Global Award in the Connected Health category honoring KORE’s enablement of Australia-based drone logistics company Swoop Aero to deliver critical medical supplies – notably COVID-19 testing supplies – to remote areas across the globe. KORE demonstrated this solution in the summer to the King of Spain in a private presentation at Mobile World Congress, Barcelona.
KORE was also honored with the Beyond Connectivity Award from the World Communication Awards for its Remote Patient Monitoring solutions.
Other recognitions KORE has received this year include:
NYSE Listing Has Reinforced Interest in Company and Category
KORE debuted on the New York Stock Exchange on October 1, 2021. Founded nearly two decades ago, KORE has long been recognized as a pioneer and growth catalyst for the IoT industry. The company enjoys a leadership position in the global IoT marketplace, which is expected to grow from 12 billion IoT devices at the end of 2020 to 75 billion devices by 2030.
“Simply put, this has been an incredible year for KORE,” added Bahl. “We are excited to see how the additional exposure from being a publicly-traded company will help us as we position ourselves to compete effectively in this decade of IoT. Being recognized for our collaborative work with customers and partners is an honor, and we are very fortunate to work with so many innovative companies.”
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.
Cautionary Note on Forward-Looking Statements
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 projections of market opportunity and related expectations and statements regarding KORE’s competitive position. 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 anticipate 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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