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UK-Based Wireless Logic Group Acquires Mdex AG to Strengthen Offerings in Europe.

MANews-(C)2009-2018

16 March 2018 - London, UK-based IoT connectivity platform provider Wireless Logic has acquired Germany based M2M and IoT service and solution provider Mdex AG, to strengthen offerings in Europe, the company said.

Wireless Logic Group has acquired Mdex for an undisclosed sum.

The acquisition is Wireless Logic's fourth since its secondary MBO supported by CVC Capital in 2015. Most recently, the group refinanced existing debt facilities backed by an underwritten GBP 115m (USD 141m) stretched senior financing package provided by a combination of banks including SMBC, Park Square Capital and HSBC.

Wireless Logic Group said Mdex enables the company to strengthen its product and services offering across Europe. Mdex brings technical ability and commercial experience within Germany.

The 32-strong team will complement Wireless Logic's existing Munich-based operation and together will cement its position as an IoT connectivity platform provider in Europe.

Mdex AG provides IoT service and solutions for encrypted data communications via mobile networks, DSL and satellite.

The company delivers a broad range of IoT and M2M secure network solutions including network components such as routers, SIM cards, IP services, and encryption.

A key service is the translation and interpretation of machine data, visualised through a tailor-made platform, for multiple uses including system monitoring and predictive maintenance.

Country: Germany

Sector: IT/Online Services

Target: Mdex AG

Buyer: Wireless Logic

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:4EUGE
Date:Mar 16, 2018
Words:244
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