CTAC Cerberus Telecom Acquisition Corp

ATLANTA, Aug. 30, 2021 /PRNewswire/ -- KORE, a global leader in Internet of Things (IoT) solutions and worldwide IoT Connectivity-as-a-Service (IoT CaaS), today announced that it is expanding its international partnership with Everynet, the world's largest network operator for national LoRaWAN® networks, into the U.S. at a time when the need to capture and transport small packets of data is growing and use cases for Massive IoT are accelerating.

According to Transforma Insights, by 2025, 358 million Massive IoT devices will exist in the U.S. and over 2 billion devices globally. This trend is one of several that is fueling the expanded relationship between the two companies.

"Our relationship with Everynet is battle-tested in Brazil where we started our partnership some three years ago, and we are bringing those learnings into the U.S. as LoRa begins to mature in this country," said KORE President and CEO Romil Bahl. "While most people think of KORE as the global, independent leader in cellular IoT CaaS, the reality is we also integrate satellite bearers and provide services related to unlicensed cellular technologies like LoRa."

Leveraging the KORE and Everynet partnership, for example, water utilities can operate, maintain, and monetize a water distribution system efficiently. Water metering is a Massive IoT use case that requires a variety of connectivity needs on the network, not just big bandwidth provided by cellular connectivity, which makes LoRaWAN a well-suited connectivity technology.

KORE customers will have the opportunity to take advantage of the new LoRaWAN network Everynet is currently building in the U.S. This coincides well with the impending 2G and 3G sunsets, as IoT customers create migration plans that leverage lower-complexity connectivity for simpler IoT use cases. LoRaWAN provides customers with IoT connectivity options that ensure the transition from 2G and 3G is seamless. LoRaWAN is also gaining ground because of its network longevity, broad coverage characteristics, and the ability to lower the overall total cost of ownership of networks.

Everynet expects its LoRaWAN network to be operational in 36 cities and 100 logistics points by the end of November 2021. Already, the company systems have been fully integrated into the KORE platforms for the U.S. market to enable customers to simplify their Massive IoT deployments.  

KORE and Everynet have a proven track record of success working together to reduce the complexity most organizations face when rolling out IoT initiatives. Since 2018, the two companies have been partnering in Brazil to deploy multiple solutions, leveraging the LoRaWAN network and the KORE platform for message brokerage and device management developed at its innovation hub, KORE Labs. The companies have implemented gas metering, water metering, and asset monitoring solutions throughout Brazil for industrial companies, municipalities, and manufacturers.

"We're delighted to bring this compelling offering to the U.S. market with KORE, by building on our successes and learnings abroad," said Lawrence Latham, Chief Executive Officer of Everynet. "Important advantages organizations will experience with a national LoRaWAN network are secure ultra-low cost connections, long-battery life, and a simple means to connect billions of devices to the cloud. We are looking forward to working with KORE Wireless to help businesses gain operational efficiencies, enable innovation, and create new business models."

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.

About Everynet 
Everynet is a global LoRaWAN® network operator and provides carrier grade networks in Asia, EMEA, and the Americas. Everynet's Neutral Host network model enables Mobile Network Operators, MVNO's, and Global MSP's to offer ultra-low cost IoT immediately and profitably with ZERO upfront CAPEX. Everynet makes IoT accessible across any industry to enable enterprise-grade solutions and is deployed using LoRaWAN® technology, the globally-adopted open standard for IoT connectivity. For more information, visit www.everynet.com.

LoRa is a registered trademark or service mark of Semtech Corporation or its affiliates.

KORE Investor and Media Contact:
Jean Creech Avent
KORE
Vice President, Investor Relations and Public Relations
Phone: +1 843-986-8229
Email: jcreechavent@korewireless.com

Investors:
investors@korewireless.com

Everynet Media Contact
Allison DeLeo
Racepoint Global for Everynet
(415) 694-6700
everynet@racepointglobal.com

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.

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SOURCE KORE Wireless