- CVC Capital Partners (‘CVC’) acquire stake from ECI Partners (‘ECI’)
- Co-founders Oliver Tucker and Philip Cole prepare for new growth strategy
- Wireless Logic’s market for M2M and Internet of Things (IoT) managed services forecast for explosive growth
London, Tuesday 10 February 2015: Wireless Logic is pleased to announce that CVC Capital Partners have invested into the organisation following a four year partnership with ECI Partners. During ECI’s period of investment Wireless Logic has expanded internationally, opening offices in France, Germany and Spain, more than doubled its workforce and nearly tripled the underlying subscriber base to circa 1.5m.
M2M managed services platforms, such as Wireless Logic, enable the ‘Internet of Things’, the mega-trend of the 21st century. The market for M2M connectivity and related services is forecast to grow from €7.1 billion in 2014 to €22.5 billion in 2019 and subscriptions from 214 to 600 million in the same period, representing a CAGR of 25.9% and 22.9% respectively. Gartner estimates that the number of wireless connected devices will reach 26 billion by 2020.* Wireless Logic is at the forefront of this trend, providing secure connectivity across 26 European mobile networks and satellite. Through their ‘one window to all networks’ platform, they overlay a range of value-added services including secure VPN, device management, and global mapping solutions.
Founded in 1999 by Managing Director Oliver Tucker and Sales Director Philip Cole, Wireless Logic is now recognised as Europe’s leading provider of M2M Managed Services and has ambitious plans to continue its market growth.
Oliver Tucker – Managing Director, Wireless Logic, said: “Through ECI’s tenure, Wireless Logic has evolved and strengthened our market position both in the UK and across Europe. Our thanks must go to their stewardship throughout this time. And in welcoming CVC, we are looking forward to raising the bar with substantial investment across our technology platforms and further product diversification within this ever-changing and rapidly-growing market.”
Philip Cole – Sales Director, Wireless Logic, said: “We are delighted to welcome the CVC team onto the board of Wireless Logic. Their global network, reach and resources will be invaluable as we consolidate and grow the business in both existing and new territories.”
* Source: Gartner
About CVC Capital Partners
CVC is one of the world’s leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of over 20 offices and over 300 employees throughout Europe, Asia and the US. Currently, CVC manages funds on behalf of over 300 investors from North America, Europe, Asia and the Middle East, who entrust their capital to CVC for periods of 10 years or more. To date, CVC has secured commitments of over US$60 billion in funds from a diverse and loyal investor base, completing over 300 investments in a wide range of industries and countries across the globe, with an aggregate transaction value of over US$120 billion.
In 2014, CVC formed a new team – CVC Growth Partners, led by John Clark, Managing Partner, to target smaller growth-oriented companies through its dedicated CVC Growth Fund. The fund focuses on middle-market, high-growth companies in the software and technology-enabled business services sector. The fund primarily targets equity investments between $50mn and $200mn in North America and Europe.
For further information, please visit www.cvc.com