Kore Group‘s (NYSE:KORE) share price spiked Friday’ following a $726-million deal with Searchlight Capital Partners and Abry Partners.
On Nov. 4, Kore received a letter from Searchlight and Abry seeking to discuss an acquisition of the shares they don't already own. The board subsequently formed a special committee to evaluate options and suspended 2025 guidance amid uncertainty about the strategic review.
All-Cash Premium Deal
Kore shareholders are now set to receive $9.25 per share in cash — a 691% premium to the stock’s closing price prior to the acquisition.
The transaction is expected to close in the second or third quarter of 2026. The board unanimously supported the agreement.
The acquisition comes as Kore has been navigating its position within the IoT sector, with Abry Partners currently owning about 28% of Kore’s shares. This merger aims to consolidate KORE’s resources and expertise under private ownership, potentially leading to more focused growth strategies in the rapidly evolving IoT landscape.
Kore director Timothy Donahue, who chairs the special committee, explained that the company “explored numerous strategic alternatives” and that a transaction with Searchlight and Abry was “the best option” for stockholders.
The broader market experienced declines on the previous trading day, with the Dow Jones down 0.63% and the S&P 500 falling 0.52%. This backdrop of market weakness contrasts with Kore’s strong performance, suggesting that the acquisition news is driving investor interest despite the overall market sentiment.
Earnings & Analyst Outlook
Kore is slated to provide its next financial update on April 29, 2026.
- EPS Estimate: Loss of 49 cents (Up from -131 cents)
- Revenue Estimate: $71.95 million (Down from $73.32 million)
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $30.36. Recent analyst moves include:
- TD Cowen: Hold (Raises Target to $5.00) (Nov. 13, 2025)
Price Action: Kore Group shares were up 79% at $8.97 at last check on Friday, according to Benzinga Pro data.
Currently, Kore is trading significantly above its 52-week low of $2.00 and is positioned closer to its 52-week high of $5.29. This upward movement indicates a strong bullish sentiment, especially in light of the acquisition news, which could further influence the stock’s trajectory.
The stock’s technical indicators are currently neutral, with no significant moving averages or crossovers detected. The absence of a clear trend in the moving averages suggests that traders should watch for potential breakouts or consolidations in the coming sessions.
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