Simon Tremlett, FD, Shareholder and founder of Wireless said:
"I would just like to say how much I greatly appreciated the superb assistance provided by James Pugh, our deal leader, throughout our transaction that successfully completed in August 2017 .There is, no doubt, that without his help and experience that such a successful transaction would not have been achieved. James’ strengths at understanding our business, Wireless Innovation Limited and his ability to communicate with all Board members gave everyone enormous confidence and empathy in everything that James did for us at every stage. Like many such deals, it got a bit fraught for us at times, but his prior business experience, substantial M&A knowledge and good humour ensured that we got over the line."
Jeff Martin, Commercial Director and Founder of Wireless said:
"James was our deal leader throughout our transaction process culminating in a successful completion in August 2017. James worked tirelessly with us throughout the transaction and took great lengths to understand not only the nature of our business on a commercial level, but also the fabric of the company and the importance of the workforce to that commercial success.
He spent many hours building relationships with all the Shareholders, which ultimately meant that he had full understanding of what a “good” deal for all of us looked like. Those relationships also meant that he was able to manage different personalities through at times stressful periods. His ability to formulate and explain bidding strategies and manage all our expectations, and his seemingly ever-presence, gave us huge confidence that we were in safe hands throughout the whole process. It is certainly felt by us all that James substantial knowledge and personality ensured that the transaction was completed successfully."
Lyceum Capital, a UK private equity firm specialising in B2B services and technology, announced the acquisition for an undisclosed sum of Wireless Innovation, a UK-headquartered machine-to-machine (M2M) managed services connectivity provider.
The acquisition marks Lyceum Capital’s first investment in the M2M/IoT sector and is part of the company’s £20 million (€21.67 million) commitment to acquire businesses in this space. The investment will enable Wireless Innovation to maximise growth opportunities in the global M2M market while adding new capabilities to its technology platform.
Wireless Innovation provides data connectivity for remote M2M environments by integrating satellite and cellular communications. Working in over 100 countries and across industries including renewables, electricity, water, oil and gas, telematics, aviation and marine, it allows systems integrators and application providers to securely manage, monitor and extract data from their networks.
With the number of user cases for M2M and IoT growing, demand for enterprise connectivity is on the rise. Yet there are many concerns within the industry regarding data transmission and security. Wireless Innovation’s platform gives customers complete control via private networks, ensuring all data is delivered reliably and securely. Wireless Innovation’s deep technical expertise, coupled with its ability to securely connect devices across multiple geographies, was key to Lyceum Capital’s decision to invest in the company.