NVM Private Equity (“NVM”) has today announced the sale of Mobius Networks Limited (“Mobius”) to Wireless Logic, the leading global IoT connectivity platform, for an undisclosed sum.
Formed in 2004 and headquartered in Leicestershire, Mobius began as Vodafone’s preferred distributor for M2M Data SIMs for local government and smart cities. This has now expanded to other global operators and a broader set of sectors including critical national infrastructure, healthcare, and retail. At the core of the Mobius offering has been high availability, high security, and a focus on excellent customer service.
NVM backed Mobius less than three years ago and today’s announcement provides the first realisation from its Vintage III fund. Whilst the value of the deal remains undisclosed, it will deliver an outstanding return for the investors in Vintage III. The investment has been led and managed throughout by Andy Leach and Oliver Wildig from NVM’s Manchester Office.
Douglas Gilmour, Mobius Networks MD said “Mobius has enjoyed an exciting three years partnered with and supported by NVM, over which period the business has grown significantly and achieved great success due to our unique approach to data security and our deep expertise in particular verticals. This creates a great fit with Wireless Logic and one that will be able to capitalise on new opportunities across the globe. Whilst sorry that our partnership with NVM is now at an end, the whole Mobius team is very excited as we look forward to the next phase of our journey.”
Oliver Tucker, CEO of Wireless Logic said “The IoT and M2M operations market is growing rapidly, and Mobius has developed a stellar reputation and strategic position to capitalise on this growth. We are very excited by this acquisition and look forward to working closely with the talented team at Mobius.”
Andy Leach, Partner said “We are delighted with the outstanding progress that Mobius has made in a very short period of time. The company has grown significantly over these past three years and is now perfectly positioned to capitalise on the exciting prospects that the IoT and M2M markets hold. Doug and his team have built a great business which will undoubtedly prosper under the stewardship of Wireless Logic. It would be remiss of me to let this moment pass without mentioning the contribution of Carl Barton, Mobius’ founder, to this success story in which his vision and perseverance have been fundamental factors.”
Advisors to NVM and management on the sale were
- Corporate Finance – IA Global Capital (Andres Pieczanski; Andrew Price; Chris Butterfield);
- Legal – CMS Cameron McKenna Nabarro Olswang (Anthony Waller; Philip Walton; Amy Bainbridge) and Shakespeare Martineau (Keith Spedding; Peter Mayhew).