ECI acquires Peter Jones’s Wireless Logic

Entrepreneur and investor Peter Jones has disposed of his interest in Wireless Logic to private equity firm ECI Partners and management in a deal worth £38 million.

Jones, of Dragon’s Den fame, is also invested in gift experience business Red Letter Days, cooking sauce company Reggae Reggae Sauce and lifestyle magazine Wonderland.

Wireless Logic provides Machine to Machine (M2M) communications, technology which allows wireless and wired products to connects with other similar devices.

The business is partnered with Vodafone, Orange and 02 and was ranked 25th in the Sunday Times’ Tech Track 2010.

The acquisition of Wireless Logic is ECI’s sixth investment in eleven months following equity invested in Stewart Group, CarTrawler, Fourth Hospitality, Reed & Mackay and XLN topping £170 million.

Director of ECI, Chris Warren, comments: ‘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.’

Jones’ initially acquired Wireless Logic in 2002 and says that the business has ‘grown significantly’ in a short space of time.

Oliver Tucker, managing director of Wireless Logic, says: ‘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.’

Todd Cardy

Todd Cardy

Todd was Editor of between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital. Connect with...

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