ECI invests in Wireless Logic

18/06/2011
Read Time: 2 Min

ECI backed the founders of Wireless Logic to buy back the business from Phones International Group, owned by Dragons’ Den star and serial entrepreneur Peter Jones CBE for £35m. Wireless Logic is the UK’s leading independent Machine to Machine (“M2M”) communications specialist, with 3,600 customers and nearly 600,000 SIMS under management in the UK and continental Europe.

Wireless Logic operates in the fast growing M2M communications market, offering a M2M communication solution for its customers, connecting embedded sensing devices in their machines (e.g. vehicles) via SIM-based technology. The company partners with all the major mobile networks including Vodafone, Orange and O2. The capability of SIM enabled machines to transmit and receive information instantaneously improves efficiency, reduces costs and improves response times. Applications include vehicle tracking, smart metering, home and business security and intelligent health monitoring.

Wireless Logic’s technology and services are integral to the continued growth of the “Internet of Things”, which refers to the increasing number of devices that are internet enabled. Vehicle tracking was one of the first industry sectors to develop on the back of M2M technology and significant growth remains in this market, with only 20% of commercial vehicles currently tracked. Rapid growth is also forecast in other sectors, such as smart utility metering, healthcare and security, and new applications are being developed every day such as wireless advertising and PDQ machines in taxis.

The M2M market is forecast to experience rapid growth of more than 30% per annum and Wireless Logic is well positioned to benefit from this expansion. The company was ranked 25th in the Sunday Times’ Tech Track 2010 league table of the UK’s fastest-growing private technology companies.

Wireless Logic was formed in 1999 by the current Managing Director, Oliver Tucker, and Sales Director, Philip Cole – both highly experienced operators in the telecoms and technology industries. Peter Jones CBE – a major technology investor – acquired the business in 2002.

“The possible applications for M2M technology are virtually limitless and we are extremely excited by the potential of Wireless Logic in this rapidly growing market. We are looking forward to working with the management team and assisting the company in its continuing expansion and market development.”

Paul McCreadie

Investment Director of ECI

“Wireless Logic is the UK’s leader in M2M networks and has grown significantly in a fairly short time frame since I made the decision to acquire the business in 2002. I have thoroughly enjoyed helping Philip and Oliver to grow the business in that time and I will be watching with interest how the business develops further with the support and backing of ECI.”

Peter Jones

CBE

“We moved quickly to secure a commanding market position in this exciting and rapidly developing M2M market and have created a business model that adds value to our clients and that creates attractive recurring revenues. We look forward to building on our position as market leaders with continual development in our software platform and increasing our service and value-adds to our channel customers.”

Oliver Tucker

Managing Director

“We are excited to be moving on to the next stage in our company’s development and expect to benefit from ECI’s backing and knowledge of our sector. We will continue to drive growth in the UK and further European expansion is our next stop.”

Philip Cole

Sales and Marketing Director

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