The former CEO of Alternative Networks has been drafted in to lead a new £20m buy-and-build in the channel.
Edward Spurrier has joined as chairman of Wireless Innovation following the managed services connectivity provider's acquisition by private equity house Lyceum.
With Spurrier at the helm, Lyceum says it has committed £20m to a buy-and-build strategy in the Internet of Things (IoT) and machine-to-machine (M2M) space, kicking off with the Wireless Innovation deal.
Founded in 2004, Wireless Innovation specialises in M2M data connectivity, working in partnership with satellite and cellular connectivity providers. Its clients include EDF Energy and Scottish Water.
Spurrier, who left comms VAR Alternative Networks following its recent acquisition by Daisy, will lead the acquisition strategy alongside Wireless Innovation founder and CEO Phil Rouse
Lyceum, which bills itself as the leading investor in UK B2B services and technology companies, last year acquired a majority stake in contact centre VAR Sabio, and also backs security vendor Clearswift.
Speaking about Lyceum's latest buy-and-build Simon Hitchcock, partner at Lyceum, said: "Given its growth and fragmentation, the M2M and IoT connectivity market represents an attractive investment opportunity. Wireless Innovation has created an excellent connectivity platform through significant investment and development over a number of years.
"We look forward to partnering with Phil to scale the business both organically and through acquisition."
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