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Tuesday, August 16, 2011

Peter Jones sells Wireless Logic to ECI Partners

Machine-to-machine communications specialist Wireless Logic has been sold by Peter Jones CBE. The deal, worth £35 million, involves private equity firm ECI Partners and the Wireless Logic management team.

Wireless Logic is responsible for with 3,600 customers with nearly 600,000 SIMs in the UK and Europe. M2M applications offered by the company include vehicle tracking, smart metering, home & business security and intelligent health monitoring.

Wireless Logic was formed in 1999 by Managing Director Oliver Tucker and Sales & Marketing Director Philip Cole. Peter Jones acquired the business in 2002.

Chris Warren, Director of ECI, said “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.”

Mr Jones also owns the Data Select distribution business and has a large share in online retailer Expansys.

Author: The Fonecast
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