Wireless Logic Group acquires Mdex AG

Wireless Logic, Europe´s IoT connectivity platform provider has announced the acquisition of Mdex AG, the German M2M and IoT service and solution provider for encrypted data communications via mobile networks, DSL and satellite, the company said.

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.

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 EUR8m with EBITDA of EUR1.25m. 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.