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 stockholders.”
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.
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