Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION AND DIVESTITURES (Tables)

v3.22.2
ACQUISITION AND DIVESTITURES (Tables)
 6 Months Ended
Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Allocation of Consideration Transferred for Acquired Companies
The following table summarizes the allocation of the consideration transferred for the Acquired Companies, including the identified assets acquired and liabilities assumed as of the acquisition date. The purchase price allocation is preliminary and is subject to revision as additional information about the fair value of the assets acquired and liabilities assumed, including certain working capital and income taxes, become available.
(in '000 USD) Fair Value
Cash, (net of closing cash of $1,995) and working capital adjustments
 $ 46,002 
Fair value of KORE common stock issued to sellers (4,212,246 shares)
 23,295 
Total consideration $ 69,297 
Assets acquired:
Accounts receivable 3,303 
Inventories 1,323 
Prepaid expenses and other receivables 976 
Property and equipment 201 
Intangible assets 28,664 
Total Assets acquired 34,467 
Liabilities assumed:
Deferred tax liabilities 7,391 
Accounts payable and accrued liabilities 2,638 
Liabilities assumed 10,029 
Net identifiable assets acquired 24,438 
Goodwill (excess of consideration transferred over net identifiable assets acquired) $ 44,859