ATLANTA, June 27,
2022 /PRNewswire/ -- KORE Group Holdings, Inc.
(NYSE: KORE, KORE WS) ("KORE" or the "Company"), a global leader in
Internet of Things (IoT) solutions and worldwide IoT
Connectivity-as-a-Service (CaaS), reported today that the Company
has been added as a member of the broad-market Russell
3000® Index, effective today after the US markets
open, as part of the 2022 Russell indexes reconstitution.
"In our time as a public company, KORE has delivered meaningful
revenue growth and demonstrated that it is a resilient company with
a strong business model," said President and CEO Romil Bahl. "We have delivered these results in
the face of headwinds ranging from the 2G/3G network sunsets in the
US, the pandemic, supply chain challenges, and inflation. Today we
are pleased to announce that we have achieved another milestone
with our addition to the Russell 3000® Index. We
believe our inclusion in this Index will positively impact the
awareness of our company, and ultimately drive value for
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 6, ranking them
by total market capitalization. Membership in the US all-cap
Russell 3000® Index, which remains in place for one
year, means automatic inclusion in the large-cap Russell
1000® Index or small-cap Russell
2000® Index as well as the appropriate growth and
value style indexes. FTSE Russell determines membership for its
Russell indexes primarily by objective, market-capitalization
rankings and style attributes.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $12 trillion in assets are benchmarked against
Russell's US indexes. Russell indexes are part of FTSE Russell, a
leading global index provider.
For more information on the Russell 3000® Index and
the Russell indexes reconstitution, go to the "Russell
Reconstitution" section on the FTSE Russell website.
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
About FTSE Russell
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide.
FTSE Russell calculates thousands of indexes that measure and
benchmark markets and asset classes in more than 70 countries,
covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately
$20 trillion is currently benchmarked
to FTSE Russell indexes. For over 30 years, leading asset owners,
asset managers, ETF providers and investment banks have chosen FTSE
Russell indexes to benchmark their investment performance and
create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Cautionary Note on Forward-Looking
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 statements about KORE's inclusion in the Russell 3000®
Index following the conclusion of the annual reconstitution 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, including Business Mobility Partners Inc and
Simon IoT LLC, 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. The foregoing
list of factors is not exhaustive. You should carefully consider
the foregoing factors and the other risks and uncertainties
described in the "Risk Factors" section of the Annual Report on
Form 10-K that KORE has most recently filed with the U.S.
Securities and Exchange Commission, or the SEC, and other documents
filed by us or that will be filed by us from time to time with the
SEC. 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
Charley Brady, CTP
Vice President, Investor Relations
Matt Glover and Alex Thompson
Gateway Group, Inc.
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SOURCE KORE Wireless