The pending lotto agreement between KORE and Ericsson.

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Tech News Summary:

  • KORE Group Holdings has agreed to purchase Twilio’s IoT division, with the acquisition expected to be finalized by June 1.
  • KORE is optimistic about its partnership with Ericsson, despite Ericsson selling its IoT business to KORE’s rival Aeris Communications. Bahl, KORE’s CEO, declined to comment further on the integration of Twilio and KORE.
  • KORE’s net loss for Q4 2022 was $68.8 million, and it expects revenue of $300 million to $310 million and Adjusted EBITDA of $60 million to $62 million for full year 2023.

The much-awaited lotto deal between Korean lottery operator, KORE, and technology giant Ericsson is still pending. The deal, which aims to modernize the lottery system in Korea, has been in the works for several months now. However, both companies are taking their time to finalize the agreement, citing technical and logistical challenges.

The deal is expected to improve the overall experience of lottery players in Korea, with Ericsson bringing in its advanced technology and expertise in the field. Ericsson’s mobile-based lottery solution would also enable KORE to cater to a larger pool of players through online and mobile channels.

According to KORE officials, they are confident that the deal will push through and that it will be a game-changer for the lottery industry in Korea. However, they acknowledge that there are still some hurdles to overcome.

On the other hand, Ericsson remains committed to delivering its best-in-class lottery solution to KORE. They understand the complexity of the project and are working closely with KORE to address any issues that may arise.

Despite the delay, both companies remain confident that they will reach a successful conclusion soon. The lotto deal between KORE and Ericsson will undoubtedly shake up the lottery landscape in Korea and bring a fresh approach to a traditional game that has been around for centuries.

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