DRAGONS’ DEN star Peter Jones has offloaded his telecoms firm Wireless Logic to private equity outfit ECI Partners in a deal worth £38m.
The deal for the machine to machine communications firm is the latest in a string of telecoms disposals by Jones, a former tennis coach. The sales of SIM reseller DSNS and IT services provider PJ Media take his total gains in the last 12 months to almost £100m.
Jones said: “Wireless Logic has grown significantly in a fairly short time frame since I made the decision to acquire the business in 2002. I have sold several investments in the last 12 months in the very fast moving telecoms sector.”
Wireless Logic provides a secure connection between a network of mobile devices, for example the ability to view multiple CCTV feeds through a single smartphone handset.
Technology entrepreneur Jones launched several businesses, including a cocktail bar in Windsor, before shooting to prominence on BBC series Dragon’s Den.
He founded the Peter Jones Enterprise Academy to promote new businesses in the UK.