Fenwick Represents Twilio in the Sale of IoT Business Unit to KORE

Fenwick is representing Twilio (NYSE:TWLO), a customer engagement platform that drives real-time, personalized experiences for today's leading brands, in the sale of its IoT business unit to KORE Group Holdings (NYSE:KORE, KORE WS), a provider of IoT Solutions and worldwide IoT Connectivity-as-a-Service. As consideration for the acquisition, Twilio will receive 10 million shares of KORE common stock, which will represent approximately 11.5% of KORE's issued and outstanding shares.

KORE’s acquisition of Twilio’s IOT business unit is part of KORE’s growth strategy to provide customers with a unified, seamless approach to launching IoT solutions as the world's leading pure-play IoT provider. More information can be obtained from the announcement.

The Fenwick transaction team included corporate partners Ken Myers and Bomi Lee and associates Samuel Fleuter, Brendan Montgomery and Christina Scully; technology transactions partners Joseph Schenck and Jonathan Millard, counsel Susanne Petersen, associates Russell Wong, Barbara Wong and Sarah Meyers and advisor Sandra Weustink; executive compensation and employee benefits partner Matt Cantor and associate Christophe Delrieu; antitrust partner Tom Ensign and associate Elizabeth Suarez; tax partner William Skinner; employment partner Matthew Damm; and privacy and security counsel Ana Razmazma.