Technology

KORE Announces NYSE Acceptance of Plan to Regain Listing Compliance

Published

7 hours ago

December 23, 2024

ATLANTA, Dec. 23, 2024 /PRNewswire/ — KORE Group Holdings, Inc. (NYSE: KORE) (“KORE” or the “Company”), the global pure-play Internet of Things (“IoT”) hyperscaler and provider of IoT Connectivity, Solutions, and Analytics, today announced it has received notification (the “Acceptance Letter”) from the New York Stock Exchange (the “NYSE”) that the NYSE has accepted the Company’s previously-submitted plan (the “Plan”) to regain compliance with the NYSE’s continued listing standards set forth in Section 802.01B of the NYSE Listed Company Manual relating to minimum market capitalization and stockholders’ equity. In the Acceptance Letter, the NYSE granted the Company an 18-month period from September 12, 2024 (the “Plan Period”) to regain compliance with the continued listing standards. As part of the Plan, the Company is required to provide the NYSE quarterly updates regarding its progress towards the goals and initiatives in the Plan. In the Plan, Kore included details regarding previously reported operational restructuring activities, as well as an outlook on the Company’s business.

The Company expects its common stock will continue to be listed on the NYSE during the Plan Period, subject to the Company adherence to the Plan and compliance with other applicable NYSE continued listing standards. The Company’s receipt of such notification from the NYSE does not affect the Company’s business, operations or reporting requirements with the U.S. Securities and Exchange Commission.

Cautionary Note on Forward-Looking Statements

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,” “guidance,” “project,” “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 expected progress with the Company’s compliance plan submitted to the NYSE, expected compliance with continued listing standards of the NYSE and expected continued listing of the Company’s common stock on the NYSE. 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 the acquisition of Twilio’s IoT business, changes in the assumptions underlying KORE’s expectations regarding its future business; our ability to negotiate and sign a definitive contract with a customer in our sales funnel; our ability to realize some or all of estimates relating to customer contracts as revenue, including any contractual options available to customers or contractual periods that are subject to termination for convenience provisions; 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.

KORE Investor Contact:

Vik Vijayvergiya
Vice President, IR, Corporate Development and Strategy
vvijayvergiya@korewireless.com
(770) 280-0324

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SOURCE KORE Group Holdings, Inc.

Technology

Movate Recognized as a Leader in Everest Group’s Digital Workplace Services PEAK Matrix® Assessment 2024 for Mid-Market Enterprises

Published

58 minutes ago

December 24, 2024

BENGALURU, India, Dec. 24, 2024 /PRNewswire/ — Movate, a leading digital technology and IT services provider, has been named a Leader in the Everest Group’s Digital Workplace Services PEAK Matrix® Assessment 2024 for Mid-Market Enterprises. This report by Everest Group, a leading global research firm, evaluates and compares the top providers in digital workplace services, focusing on their vision, capabilities, and market impact.

Movate has been recognized for its innovative Digital Workplace Service Offering, which addresses the evolving needs of modern enterprises with cutting-edge generative AI applications, smart workplace tools, and workplace automation platforms. With a robust portfolio of services across the Digital eXperience Desk, Workplace Engineering, Unified Device Management, Productivity & Collaboration, and AI @ Workplace, Movate has proven expertise and experience in delivering end-to-end workplace solutions. These offerings empower enterprises to transform their workplace experiences, ensuring agility, operational efficiency, and seamless collaboration.

Defined by a persona- and user experience-centric approach, Movate’s Digital Workplace Practice leverages strategic partnerships with technology leaders like Microsoft and ServiceNow to accelerate business outcomes. Its robust ITSM capabilities and innovative smart field support services—including Virtual Genius Bars, smart lockers, and vending machines—demonstrate a forward-thinking, remote-first service delivery model. Additionally, investments in Movate AI, a holistic AI suite for enterprise reinvention at scale, empower clients with advanced capabilities such as automated behavioral analysis, KPI trend insights, smart device monitoring, and proactive problem solving.

Sunil Mittal, CEO at Movate, said, “We are honored to be recognized as a Leader in Everest Group’s Digital Workplace Services PEAK Matrix® Assessment for 2024. This distinction reinforces Movate’s unwavering commitment to driving innovation, harnessing cutting-edge technology, and leveraging our deep industry expertise to shape the digital workplaces of tomorrow. By focusing on reimagining the employee experience through smart, secure, and AI-powered workplace solutions, we are enabling global enterprises to achieve transformational business outcomes and set new benchmarks in the digital workplace landscape.”

Udit Singh, Vice President, Everest Group, said, “The digital workplace mid-market enterprises have unique demand themes that set them apart from their large counterparts, necessitating distinct sourcing needs that emphasize client management, agility, and cost-effectiveness to stay competitive. To serve these unique needs, providers must refine their offerings and tailor solutions for mid-market clients.

Movate’s persona- and user experience-centric approach to workplace, along with its strategic focus on ITSM capabilities, robust smart field support services, and investment in generative AI solutions, have collectively contributed to its position as a Leader in Everest Group’s Digital Workplace Services PEAK Matrix® Assessment 2024 – Mid-market enterprises.”

For more information on Movate’s recognition in Everest Group’s Digital Workplace Services PEAK Matrix® Assessment 2024, visit: Movate recognized as a leader in Everest Group’s Digital Workplace Services PEAK Matrix® Assessment 2024 (Mid-market enterprises)

About Movate:

Movate is a digital technology and customer experience services company committed to disrupting the industry with boundless agility, human-centered innovation, and relentless focus on driving client outcomes. It helps ambitious, growth-oriented companies across industries stay ahead of the curve by leveraging its diverse talent of over 12,000 full-time Movators across 21 global locations and a gig network of thousands of technology experts across 60 countries, speaking over 100 languages. Movate has emerged as one of the most awarded and analyst-accredited companies in its revenue range. To know more, visit: www.movate.com.

Follow Movate on LinkedIn, Facebook and Twitter.

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Technology

AIMA Technology Welcomes Top U.S. Dealers to Shape the Future Together

Published

2 hours ago

December 24, 2024

TIANJIN, China, Dec. 23, 2024 /PRNewswire/ — On December 7, 2024, AIMA Technology Group warmly invited a delegation of five top-performing U.S. IBD dealers to visit its headquarters. Accompanying the group was Angela Zheng, CEO of AIMA’s U.S. subsidiary, AIMA EBIKE, along with her sales, marketing, and customer service teams. This visit not only marked a deepened connection between AIMA and the mainstream U.S. market but also provided U.S. dealers with a valuable opportunity to witness AIMA Technology’s globally leading capabilities in research, development, and manufacturing of electric mobility solutions.

The delegation first toured AIMA’s state-of-the-art factory in Tianjin. Aima Technology possesses production factories with extremely high levels of intelligent manufacturing Additionally, AIMA has integrated advanced technologies such as AI visual recognition and established a CNAS-certified R&D laboratory, maintaining its industry leadership in intelligent transformation. During the tour, the dealers were deeply impressed by AIMA’s cutting-edge technology, large-scale production capabilities, and relentless pursuit of excellence in product development and manufacturing. They expressed that this rare visit not only enhanced their understanding of AIMA but also strengthened their confidence in promoting AIMA products as a symbol of outstanding performance and exceptional quality to their customers.

Furthermore, AIMA Technology’s R&D team engaged in in-depth discussions with the dealers regarding the new models AIMA EBIKE plans to launch in 2025. The dealers test-rode prototypes of the latest models and shared their innovative insights. They expressed high praise for AIMA’s product innovation capabilities and market acumen, recognizing these as key factors that distinguish AIMA in the industry.

Later, the dealers joined AIMA Technology‘s team to witness the rollout of the 10,000th AIMA E-Bike. This milestone moment showcased AIMA’s exceptional manufacturing strength and market influence. The dealers were inspired and expressed strong confidence in the promising future of their partnership with AIMA.

This visit from the top-tier U.S. dealer delegation not only deepened mutual trust and friendship but also injected new momentum into AIMA’s ambition to become a leader in the U.S. E-Bike industry by focusing on the IBD channel. Looking ahead, AIMA Technology will continue to strive to provide market-leading performance and quality, enhancing its product development and manufacturing capabilities while working hand-in-hand with global dealers to create an even brighter future.

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SOURCE AIMA Technology

Technology

AIMA Technology Group to Unveil Seven New Electric Mobility Products at CES 2025 and Partner with Italian Brand to Set New Industry Standards

Published

2 hours ago

December 24, 2024

LAS VEGAS, Dec. 23, 2024 /PRNewswire/ — AIMA Technology Group will debut seven new electric mobility products at CES 2025, catering to diverse consumer needs, from urban commuters to adventure seekers. Each product will showcase AIMA Technology Group’s signature blend of futuristic design, smart technology, and eco-conscious engineering, further advancing sustainable electric mobility.

AIMA Technology Group will also unveil its strategic partnership with a top-tier Italian brand at CES 2025, merging luxurious aesthetics with superior performance to set a new standard in the electric mobility industry. This collaboration will redefine luxury and practicality in electric mobility, establishing a new benchmark for the industry.

AIMA Technology Group’s global expansion is accelerating, having already covered over 50 countries, with a cumulative sales volume exceeding 80 million units by 2023. The showcase at CES 2025 will further strengthen AIMA Technology Group’s leadership in the global electric mobility market.

During CES 2025, AIMA Technology Group will hold a media reception on Tuesday, January 7th at 10:30 AM (Pacific Time) to showcase its new product lineup. On January 8th at 11:00 AM, AIMA will unveil the mysterious limited-edition concept new product at the CES booth, redefining the future of mobility. We invite you to join us in discovering this groundbreaking innovation. Booth location: Las Vegas Convention Center, North Hall, Booth #10947, showcasing our latest innovative achievements.

AIMA Technology booth: Las Vegas Convention Center, North Hall, Booth #10947.

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SOURCE AIMA Technology