Press Release

Kirkland Represents Abry-Backed Kore on Merger with Cerberus Telecom Acquisition Corp.

Kirkland & Ellis advised KORE Wireless Group, Inc., a global leader in Internet of Things solutions and worldwide Connectivity-as-a-Service, on its merger with Cerberus Telecom Acquisition Corp. (NYSE: CTAC.U, CTAC, CTAC WS) (“CTAC”), a special purpose acquisition company affiliated with Cerberus Capital Management, L.P. Kore is a portfolio company of Abry Partners. Upon completion of the transaction, the combined company will be listed on the New York Stock Exchange under the ticker symbol “KORE”. The fully diluted pro-forma implied enterprise value of the combined company is approximately $1.014 billion. The transaction includes a $225 million PIPE investment which was oversubscribed and upsized due to high demand, and is anchored by leading institutional investors, including Koch Strategic Platforms, LLC, a subsidiary of Koch Industries and part of the Koch Investment Group, and funds and accounts managed by BlackRock. The transaction is subject to customary closing conditions and is expected to close in mid-2021. 

Read the KORE press release

The Kirkland team was led by corporate partners Joshua Kogan and Amanda Border and associate Dan Vaczy and capital markets partner Joshua Korff.