Machine-to-machine provider on course to increase number of M2M-connected contracts it sells in the UK and Europe by 41 per cent year-on-year
M2M firm Wireless Logic says it expects SIM sales to reach one million by the end of 2012.
The firm, whose year-on-year turnover for the year ending in April rose by 34 per cent to £15.5 million, says it is on course to increase the number of M2M-connected contracts it sells in the UK and across Europe by around 300,000 year on year – a rise of 41 per cent.
The company’s co-founder and marketing and sales director, Philip Cole, revealed an estimated market growth of 27 per cent between 2012 and 2016.
The total number of M2M devices worldwide is expected to hit around 37.9 million by 2016, according to research firm Berg Insight.
Wireless Logic also said it is “committed” to developing its presence in “a number of key European markets”.
These include – but are not limited to – Germany, France and Spain, where it has recently opened new offices. Wireless Logic has operations in 34 European countries in total.
In addition, the firm has bolstered its UK team with the appointment of two new board members – Richard Miller from PwC as chief financial officer and Matt Thomas as chief technology officer.
Miller will focus on acquisitions while Thomas will look to develop the firm’s M2M platform ‘SIMpro’ further, including exploring software licensing opportunities as well as adding an additional layer of “customer-focused services”.
Wireless Logic managing director and co-founder Oliver Tucker said: “The global M2M market continues to grow rapidly and Wireless Logic is ideally placed to support our customers to take advantage of the enormous range of opportunities this technology provides.”
Wireless Logic is owned by private equity firm ECI Partners, which acquired the business last August from the Phones International Group, headed by Peter Jones, for £38 million.