Searchlight Capital Partners and Abry Partners have agreed to acquire Kore, an Atlanta-based Internet of Things services provider, in a $726 million take-private transaction. The deal values Kore at $9.25 per share for all outstanding common stock not already owned by the buyers.

The transaction follows a comprehensive strategic review by Kore's Special Committee, which unanimously endorsed the deal as the optimal path forward. CEO Ron Totton emphasized that the partnership with Searchlight and Abry delivers immediate value to shareholders while positioning Kore to accelerate its vision as a private, customer-centric IoT leader.

The transaction is expected to close in the second or third quarter of 2026, subject to customary closing conditions. The deal brings together two prominent private equity firms to back Kore's continued growth in the expanding IoT market.