ATLANTA, Aug. 9, 2021 /PRNewswire/ -- KORE, a global
leader in Internet of Things ("IoT") solutions and worldwide IoT
Connectivity-as-a-Service ("IoT CaaS"), today announced Gartner has
recognized the company as a top three provider out of a broad field
of vendors for two managed IoT connectivity use cases.
"Our customers have consistently told us that the complexity of IoT
deployments is their No. 1 issue."
KORE ranked as one of three providers, and the only global,
independent IoT company, with the highest capability scores for the
"Outsourced IoT Connectivity" and "Managed Complex and Diverse IoT
Connectivity" use cases assessed in the newly released Gartner
research report. The Critical Capabilities for Managed IoT
Connectivity Services, Worldwide1
report published on 31 May 2021.
This latest assessment by Gartner analysts clearly states the
business problem most IT and Infrastructure & Operations
(I&O) leaders face, when executing an IoT strategy: "Building
an IoT-enabled business is complex due to the variety of the
components needed — spanning from the edge hardware to different
connectivity technologies, management platforms and analytics."
An IoT connectivity ecosystem with specific capabilities is
required to help enterprises solve for this problem. Making up "the
eight critical capabilities against which Gartner analysts assessed
providers for this report, were: sourcing and logistics management,
connectivity management portal, service management and support, SIM
and subscription management, device management, application
management, security management, and multisourcing service
integration (MSI)."
The report also presented a number of specific findings,
including: "Multinationals are struggling to find a single provider
for 3GPP LPWA networks (LTE-M or NB-IoT) due to immaturity of
standards, interconnection and lack of roaming agreements."
Additionally: "Enterprises are increasingly looking at eSIM as a
solution for enabling more flexibility selecting local connectivity
providers with bring-your-own-connectivity scenarios and decoupling
the IoT connectivity management platform from the underlying
connectivity provider." Both findings highlight the degree to which
the IoT ecosystem is fragmented.
KORE believes it rated high in the use cases due to its
one-stop-shop approach that includes industry-led go-to-market
efforts guided by subject matter experts with deep and specific
vertical expertise, its technology platform, the vast number of
carrier integrations it has globally, and its customer service
prowess.
KORE President and CEO Romil Bahl
said upon the release of the report: "Our customers have
consistently told us that the complexity of IoT deployments is
their No. 1 issue. We have listened and responded aggressively.
Over the past three years, we have reimagined our IP and full
technology stack, expanded our IoT Solutions and Managed Services
capabilities, shifted to an industry-led market approach, and
improved our customer experience -- a transformation to a one-stop
shop across connectivity, solutions and analytics with a clear
goal: to tackle the complexity problem head on and simplify IoT so
that enterprises can make a difference in their businesses and in
the world around us."
Gartner Disclaimer
Gartner does not endorse any vendor, product or service
depicted in its research publications, and does not advise
technology users to select only those vendors with the Copyright
and Quote Policy highest ratings or other designation. Gartner
research publications consist of the opinions of Gartner's research
organization and should not be construed as statements of fact.
Gartner disclaims all warranties, expressed or implied, with
respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
About KORE
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.
Media and Investor Contact KORE
Jean Creech Avent
Vice President, Investor Relations and Public Relations
+1-843-986-8229
jcreechavent@korewireless.com
Important Information and Where to Find It
This press release includes information related to the proposed
merger transaction announced previously involving Cerberus Telecom
Acquisition Corp. ("CTAC") and KORE. CTAC and King Pubco, Inc.
("Pubco") filed a registration statement on Form S-4 with the SEC,
which includes a proxy statement of CTAC and a prospectus of Pubco,
and CTAC will file other documents regarding the proposed
transaction with the SEC. A definitive proxy statement/prospectus
will also be sent to the stockholders of CTAC, seeking required
stockholder approval. Before making any voting or investment
decision, investors and security holders of CTAC are urged to
carefully read the entire registration statement and proxy
statement/prospectus, when they become available, and any other
relevant documents filed with the SEC, as well as any amendments or
supplements to these documents, because they will contain important
information about the proposed transaction. The documents filed by
CTAC with the SEC may be obtained free of charge at the SEC's
website at www.sec.gov. In addition, the documents filed by CTAC
with the SEC may be obtained free of charge from CTAC's website at
www.cerberusacquisition.com or upon written request to
Cerberus Telecom Acquisition Corp., 875 Third Avenue, New York, NY 10022.
This press release, similar to the previous announcement, does
not constitute an offer to sell or the solicitation of an offer to
buy any securities or a solicitation of any vote or approval, nor
shall there be any sale of any securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of such other jurisdiction.
CTAC, KORE and certain of their respective directors and
executive officers may be deemed to be participants in the
solicitation of proxies from the stockholders of CTAC, in favor of
the approval of the merger. Information regarding CTAC's and KORE's
directors and executive officers and other persons who may be
deemed participants in the transaction may be obtained by reading
the registration statement and the proxy statement/prospectus and
other relevant documents filed with the SEC when they become
available. Free copies of these documents may be obtained as
described above.
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 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 CTAC or 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 CTAC and/or 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 and CTAC
anticipate that subsequent events and developments will cause these
assessments to change. However, while KORE and/or CTAC may elect to
update these forward-looking statements at some point in the
future, each of KORE and CTAC 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.
1 Gartner, "Critical Capabilities for
Managed IoT Connectivity Services, Worldwide," Pablo
Arriandiaga, Eric Goodness, Leif-Olof
Wallin, Jonathan Davenport, 31 May
2021.
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SOURCE KORE Wireless