Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS (Tables)

v3.23.1
ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 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 BMP, including the identified assets acquired and liabilities assumed as of the acquisition date.
(In thousands, USD, except share amounts) 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 
Schedule of Unaudited Pro Forma Information Had the acquisition of BMP been completed on January 1, 2021, net revenue and loss would have been:
Years Ended
(In thousands, USD) December 31, 2022 December 31,
2021
Net Revenue $ 274,179  $ 278,601 
Net Loss 104,483  22,415