Wireless Logic, Europe’s leading IoT connectivity platform provider announced the acquisition of Mdex, the leading German M2M and IoT service and solution provider.
The Hamburg-based organisation, founded in 1997, delivers a broad range of IoT and M2M secure network solutions including network components such as routers, SIM cards, IP services, and encryption. Mdex’s own data centres provide highly-secure and high-availability solutions for a growing user base with roots in energy, building technology and production. 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.
Today, Mdex boasts in excess of 4,800 customers with a portfolio of ready-to-operate packaged solutions for a wide range of application scenarios and vertical sectors.
Wireless Logic Group has acquired Mdex for an undisclosed sum. In 2018/19 it is expected to contribute revenues to the group in excess of €8m with EBITDA of €1.25m. 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 £115m stretched senior financing package provided by a combination of banks including SMBC, Park Square Capital and HSBC.
Oliver Tucker, Group CEO, Wireless Logic Group
Mdex brings exceptional levels of technical ability and commercial experience within Germany and is a highly regarded brand in its field.
Sebastian Hilberg, CEO and Joint MD, Mdex
Not only did we find such a partner in the Wireless Logic Group, but the unrivalled and unique talents and knowledge of the group companies complement each other perfectly.
