By Max Clarke
Dragons’ Den serial entrepreneur Peter Jones CBE has sold one of his telecoms businesses, Wireless Logic, to ECI Partners, the UK mid-market private equity firm, and management for £38m.
Wireless Logic is the UK’s leading independent Machine 2 Machine (M2M) communications specialist, with 3,600 customers and over 500,000 SIMS under management. ECI is one of the longest established private equity groups in the UK and has total committed capital of over £1.1billion.
“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,” said Jones.
This is the third telecoms business that the star of Dragons’ Den has sold in the last year. In the last twelve month’s alone he has sold various telecoms interests receiving almost £100 million in the process. In July last year he sold the UK’s leading SIM reseller business, DSNS, which was a division of Data Select his Distribution company and his IT services business, PJ Media for a total consideration of £49m to Expansys PLC.
“I have sold several investments in the last 12 months in the very fast moving and exciting telecoms sector,” continued Jones.
This recent sale relates to Wireless Logic, which is a specialist M2M internet and connectivity service provider that sells a broad range of secure M2M services into a number of industry vertical markets. Wireless Logic partners with customers and enables the rapid rollout and implementation of smart device solutions through providing secure M2M data communications and technology. The company provides wholesale data airtime from a large number of mobile network operators across 68 countries and combines this airtime with its own value added billing, monitoring and security services.
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