After completing its previously announced merger with Cerberus Telecom, IoT connectivity provider KORE began trading on the New York Stock Exchange last week. At a special meeting last month, Cerberus shareholders approved the deal. At the special meeting, over 70% of ordinary shares, represented in person or by proxy, voted in support of the corporate combination. After that, on September 30, the decision was met.

KORE has long been regarded as a pioneer and growth accelerator for the IoT market, having been founded nearly two decades ago. The company has a strong position in the worldwide Internet of Things industry, which is predicted to increase from 12 billion IoT devices by the end of 2020 to 75 billion by 2030.

“I am thrilled to celebrate this milestone on the KORE journey and reflect on how far we have come since we launched our transformation almost three years ago,” said KORE CEO Romil Bahl. “From the beginning of my tenure here, I have personally believed that becoming a public company was an important next step in the evolution of this great company and team, a step that will allow us to continue our goal of leading the industry as we enter the decade of IoT. The natural attributes of our business, including the growth potential given the massive market tailwinds over the next decade, our revenue visibility, and recurring revenue, make for excellent public-company characteristics.”

The funds raised through the Pipe investment and the Cerberus initial public offering are being used to position KORE for future expansion, including paying down debt and debt-like preferred equity, as well as putting cash on the balance sheet for mergers and acquisitions and future organic growth. Former KORE Wireless shareholders have rolled 100 percent of their common equity holdings into KORE Wireless common stock, while certain former KORE Wireless preferred equity holders have opted to roll some of their gains into KORE common stock.

Bahl said: “Going public gives us the opportunity to unleash shareholder value creation, including inorganic growth through accretive tuck-in acquisitions that add to the company’s capabilities.”

Public corporate executives with a track record of vision, strategy, leadership, and execution make up the KORE leadership team. The company’s 3600 global clients, as well as its IP and technology stack, build a solid moat around its firm. Additionally, the company’s IoT customers benefit from increased flexibility, reliability, and choice thanks to its global ties with telecom carriers and other connectivity bearers.

Tim Donahue, the former executive chairman of Sprint Nextel and CEO of Cerberus, has been appointed to the KORE board of directors.

“This is an incredible opportunity to participate in a publicly-listed, pure-play IoT company with the significant runway,” Donahue said. “We have full confidence in the KORE management team’s ability to execute on their strategy to drive growth and sustained returns.”

KORE’s IoT technologies benefit society and the environment. For example, the company recently partnered with SwoopAero of Australia to enable drones to distribute Covid-19 vaccines and other important medical supplies to individuals in rural areas like Malawi, Congo, and Scotland’s Shetland Islands. Car Charged has chosen KORE to assist it in providing eight million electric car drivers in the United Kingdom with access to more charging spots closer to their homes.