KORE Announces Retail Offering with Fixed Wireless Access

High-bandwidth 5G connectivity is a plug-and-play solution for retail and restaurant applications

ATLANTA (May 16, 2023) – KORE, the global pure-play Internet of Things (“IoT”) hyperscaler, and provider of IoT Connectivity, Solutions and Analytics, has announced the launch of its new vertical offering in retail solutions. The retail industry is rapidly undergoing a digital transformation, and KORE has aligned its portfolio to offer high-bandwidth solutions to meet these needs. 

The KORE Retail solution includes high bandwidth 5G cellular connectivity through fixed wireless access (FWA) to provide high-speed internet access traditionally available through wireline solutions. As many new retail applications rely on higher data volume and speed, a 5G network can offer greater bandwidth to support these new and evolving applications. 

“Digital transformation is rapidly picking up steam across retail and restaurant chains, and we are seeing some interesting applications within this segment,” KORE President and CEO Romil Bahl said. “Moving entirely to cellular connectivity or leveraging cellular as a failover technology is not easy. KORE has worked hard to make it simple to adopt through our fixed wireless access solutions.”

Retailers and restaurants, in particular, are seeing the benefits of adding 5G solutions on-site, because this high-bandwidth connectivity supports the segment’s growing digital needs beyond point-of-sales devices, including connected tablets, digital ordering, third-party integrations with delivery services, video analytics and many other connected technologies to streamline operations and eliminate the wired/wireless divide. Adding best-in-class 5G technology and connectivity, however, can be challenging, especially when addressing the different carrier needs in locations across the country.

With this new pre-configured solution, KORE is providing high bandwidth digital transformation enablement to a national restaurant chain. KORE is leveraging Cradlepoint Netcloud with 5G wireless edge solutions as this restaurant chain moves to modernize its connectivity by leveraging 5G cellular across its hundreds of U.S. locations. 

Without utilizing KORE as a connectivity provider, this restaurant chain would have had to individually source cellular connectivity based on location. KORE is able to provide a singular approach to multi-carrier connectivity and also provide this customer with a connectivity management platform to control and monitor its usage and billing in a unified approach. KORE is also providing onboarding via its customer success department and 24/7 support throughout the implementation of the solution, making the deployment simple, seamless and decreasing time to market.

KORE will present a live webinar on IoT Tech and Trends on June 7, 2023, which will explain in greater detail the benefit and use cases behind 5G high-bandwidth and fixed wireless access. This webinar will feature industry experts who have seen success in the IoT and FWA market and will discuss the most current and pertinent trends in the cellular fixed wireless access market. Register here for this event. 

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.

KORE Investors Contact
Charley Brady
Vice President, Investor Relations
investors@korewireless.com

KORE Media Contact
Carla Deisenroth
Vice President, Strategy & Marketing
cdeisenroth@korewireless.com 

Forward-Looking Statements

The Company’s expectation regarding the timing of the filing of the 10-K and the expectation of the effect of misstatements in prior financial periods are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  The actual timing of the filing and the effect of the misstatements may differ significantly from the Company’s expectation due to a number of risks and uncertainties, including the Company and its independent auditors’ inability to complete the work required to file the Annual Report in the anticipated time frame.

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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 KORE’s future product or service offerings, projections of market opportunity and conditions, and related expectations. These statements are based on various assumptions and on the current expectations of 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 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; risks relating to the integration of KORE’s acquired companies, 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 anticipates that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE 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.