US M2M Platform-as-a-Service (PaaS) RacoWireless has been acquired by rival M2M PaaS Kore Wireless. But this is not your usual takeover, as Kore itself has been acquired by multi-billion dollar fund manager ABRY Partners. ABRY’s new majority stake in Kore provides Kore with the capital needed to purchase Raco in an all-cash transaction. Now, Kore and Raco are looking to pool their resources to become the dominant brand in the M2M/IoT PaaS industry. We spoke to Raco’s president, John Horn, to learn more about the deal, which will create an as-yet-unnamed new company. The new global brand will be comprised of Raco and Kore staff, with Raco managers owning stock in the new business, as well as some mild chair…