RacoWireless, a spin-out from telecommunications firm T-Mobile, has been acquired by Kore Wireless, which paid an undisclosed amount for the company.

RacoWireless, a US-based machine-to-machine (M2M) technology spin-out of telecommunications service provider T-Mobile, has been acquired by Australia-based telecom company Kore Wireless for an undisclosed amount.

RacoWireless previously functioned largely as T-Mobile’s M2M division, handling processes such as fleet telematics, asset tracking and payment processing, before becoming independent.

John Horn, RacoWireless’ president, will stay on at the company as its executive vice-president and chief strategy officer.

The acquisition of RacoWireless was made as part of a larger restructuring of Kore that…