Entrepreneur sells Wireless Logic in £38m deal

The management of Wireless Logic was backed by ECI Partners, a mid-market private equity firm.

The company sells remote monitoring services to more than 3,600 customers.

It is the third telecoms business that Mr Jones CBE has sold in the last year, who has received nearly £100m during the period.

He said: “Wireless Logic has grown significantly in a fairly short timeframe since I made the decision to acquire the business in 2002.

“I have thoroughly enjoyed helping [the management team] 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.

“I have sold several investments in the last 12 months in the very fast moving and exciting telecoms sector.”

Chris Warren, of Buckinghamshire-based ECI, said: “The potential applications for M2M technology are endless and we are extremely excited by the potential of Wireless Logic in this rapidly growing market.

“We are looking forward to assisting the company in its continuing expansion and market development.”

Mr Jones is appearing at next month’s MADE: The Entrepreneur Festival in Sheffield.