KORE Group Shareholders Back Merger With Searchlight and Abry Entities
Stockholders approved the merger agreement and advisory compensation terms at a special meeting, clearing a key regulatory and governance hurdle for the deal.
KORE Group Holdings Inc stockholders have approved a merger agreement at a special meeting, advancing a transaction involving KONA Parent LP and KONA Merger Sub Co. The entities are affiliated with funds managed by Searchlight Capital Partners and Abry Partners. Under the agreed terms, KONA Merger Sub Co will merge into KORE Group, with KORE continuing as the surviving corporation and becoming a subsidiary of KONA Parent.
Timothy Donahue, chairman of the board, presided over the webcast meeting where stockholders voted on the merger agreement proposal and an advisory compensation proposal. The merger agreement proposal required the affirmative vote of holders of a majority of the voting power represented by outstanding shares entitled to vote, as well as a majority of votes cast by disinterested stockholders. The board of directors unanimously recommended that stockholders vote in favour of the proposal.
Jack Kennedy, executive vice president, chief legal officer and secretary, announced the preliminary results. He noted that no stockholder questions or comments were submitted during the meeting. The preliminary report of the inspector of election, Barbara Howland, indicated that the merger agreement proposal had been approved by the required stockholder votes.
Stockholders also approved, on an advisory and non-binding basis, executive compensation tied to the merger. This vote required the affirmative vote of holders of a majority in voting power of the votes cast, excluding abstentions and broker non-votes. Donahue clarified that the compensation will be payable regardless of the outcome of the advisory vote, subject to applicable conditions in the proxy statement. The advisory compensation vote is not a condition for the consummation of the merger.
KORE Group is a global provider of Internet of Things connectivity and managed services, headquartered in Atlanta, Georgia, and founded in 2002. The company offers cellular, satellite, and Low-Power Wide-Area Network connectivity, along with multi-network SIM management and cloud-based IoT platforms. Notice of the meeting and proxy materials were mailed on June 12, 2026, to stockholders of record as of June 11, 2026. The final report of the inspector of election will be filed with the minutes of the meeting.
