Wireless Logic, a UK-based IoT connectivity leader, has secured a major strategic investment from General Atlantic through its climate-focused BeyondNetZero fund. The move brings General Atlantic in as a minority shareholder, while Montagu, the firm’s long-time backer, will retain its majority stake. The investment values Wireless Logic at around £3.5 billion—a staggering rise from its £35 million valuation in 2011—and reflects its remarkable growth over the past decade.
The deal is expected to close in Q3 2025, pending regulatory approvals. With this injection of capital, Wireless Logic plans to scale its operations globally, sharpen its platform capabilities, and continue an aggressive acquisition strategy. Its most recent acquisition, Brazil-based Arqia, added more than 3 million devices to its network—its largest deal yet in terms of device volume and a major step into the Latin American market.
This new partnership also brings industry firepower to Wireless Logic’s leadership. General Atlantic’s Vice Chairman of EMEA, Vittorio Colao—former CEO of Vodafone and former Italian Minister for Digital Innovation—will join the board. He’ll work alongside Sir Michael Rake, former BT Group Chairman, who leads the board.
From Telecom Reseller to Global IoT Powerhouse
Founded in 2000, Wireless Logic began as a modest telecom reseller before being sold to Phones International Group in 2002. In 2011, founders Oliver Tucker and Philip Cole bought the company back for £35 million with support from ECI Partners. That moment proved pivotal. The founders saw an opportunity to build something more than airtime and connectivity—a platform that could help businesses manage, secure, and scale their IoT deployments across multiple networks and devices.
Since its shift into the M2M and IoT space in 2007, the company has completed over 15 acquisitions under Montagu’s ownership. From UK-based Mobius Networks to Israel’s Webbing and now Brazil’s Arqia, Wireless Logic has become a truly international platform. Between 2020 and 2023 alone, it closed 10 deals—solidifying its status as a trusted provider across sectors like smart infrastructure, logistics, security, and energy.
Now, Wireless Logic manages millions of devices worldwide through a unified, secure, and scalable platform that works across any network or geography. This evolution from reseller to IoT connectivity leader has positioned it as a critical bridge between the physical and digital world for enterprises worldwide.
Financial Strength Meets Climate Commitment
Wireless Logic’s financial trajectory mirrors its valuation boom. Parent company Blue Holdco reported revenues of £256.7 million in FY2024, with core operating profits reaching £102.3 million. Though acquisition-related costs of £141 million pushed the group into a pre-tax loss of £222.3 million, the underlying business remains strong. CEO Oliver Tucker described the company as a rare, profitable UK tech unicorn, noting consistent 20% year-on-year revenue and profit growth.
While the business scales commercially, it’s also committed to sustainability. Wireless Logic is working toward net-zero emissions by 2030, aiming to slash its greenhouse gas emissions by 90% compared to 2021 levels—a goal validated by the Science Based Targets initiative (SBTi). The company supports IoT use cases with real-world climate benefits, including smart energy grids, micromobility, industrial optimization, and precision agriculture.
Its sustainability strategy is paying off, with a DitchCarbon score placing it ahead of 75% of its telecom peers. As a result, Wireless Logic stands out not just for its scale and technology, but for its role in advancing climate goals through IoT.
With continued backing from Montagu and fresh momentum from General Atlantic, Wireless Logic is set to expand even faster—strengthening its place as the global IoT connectivity leader helping industries worldwide navigate the digital and environmental transitions ahead.
