Wireless Logic, a M2M managed services provider announced an agreement to acquire SimService, an M2M solutions provider in Denmark.
The SimService acquisition marks the continuation of a growth strategy that strengthens Wireless Logic’s increasingly dominant market position across Europe. Wireless Logic already has offices in the UK, France, Spain and Germany and sells to customers in 36 countries. SimService complements Wireless Logic’s portfolio, bringing a market-leading Scandinavian player with local knowledge and enabling further product diversification within the rapidly growing M2M market.
Oliver Tucker, CEO of Wireless Logic, said: “In addition to offering complimentary products and services, our two companies share a technically competent, customer-focused and entrepreneurial culture. That entrepreneurial spirit and culture will carry-on, as Kim Wiig Kvist and Steen Gregersen, SimService co-founders, alongside their highly acclaimed and skilled team, will now lead the continuing expansion of Wireless Logic’s business, offerings and capabilities in the Scandinavian market.”
Kim Wiig Kvist, CEO of SimService, said: “We are extremely pleased to have joined the Wireless Logic group of companies. The financial strength and credibility of Wireless Logic across Europe will help us in developing our business not only in Denmark but also across the whole of Scandinavia. We will now be able to provide our partners and customers even greater access to the European market. I believe the opportunities and further diversification this acquisition will bring us are immense and we look forward to working with the Wireless Logic team over the coming years.”
The acquisition of SimService by Wireless Logic comes just 4 months after CVC Capital Partners invested in the company. This follows a period of rapid growth for Wireless Logic; since 2011, the business has expanded internationally, more than doubled its workforce and tripled its underlying subscriber base.
