Communications firm Mobius Networks has been sold to global connectivity platform Wireless Logic.
NVM Private Equity, which invested in Leicestershire-based Mobius in 2019, today announced the sale and hailed the "outstanding progress" the company had made under its ownership.
Mobius was founded in 2004 and began as Vodafone’s preferred distributor for mobile 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.
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NVM's investment has been led and managed by Andy Leach and Oliver Wildig from NVM’s Manchester Office and today's announcement marks the first realisation from its Vintage III fund. The private equity firm is not disclosing the value but says it "will deliver an outstanding return for the investors in Vintage III."
Douglas Gilmour, managing director at Mobius Networks 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.”
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Andy Leach, partner at NVM, 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.”
The advisers to NVM and management on the sale were: corporate finance - IA Global Capital (AndresPieczanski, Andrew Price and Chris Butterfield); legal – CMS Cameron McKenna Nabarro Olswang (AnthonyWaller, Philip Walton and Amy Bainbridge) and Shakespeare Martineau (Keith Spedding and Peter Mayhew). Catriona Lang, Rob Parker and Rebecca Smith of Dow Schofield Watts Transaction Services provided vendor assistance to NVM and the management team.
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