Wireless Logic acquires French IoT start-up Matooma

Date: July, 25th, 2019

Clipperton advised Matooma, the leading French IoT connectivity specialist on its sale to Wireless Logic Group.

Clipperton acted as sole financial advisor to Matooma.

  • Matooma will join the UK-based European IoT connectivity leader and will strengthen its presence in continental Europe.
  • Founded 7 years ago and profitable for the past 3 years, Matooma is growing rapidly with 2,500 clients to-date and forecasts a revenue of €15m in 2019.
  • The transaction highlights Clipperton’s expertise in cross-border M&A transactions after a series of completed deals within last 12 months – e.g. NetRange (DE) /Access Co (JP), Musement (IT) / TUI (DE), Vide Dressing (FR) /Adevinta (NO), Givve (DE) / Up Group (FR).

Paris, July 2019 – Leading European technology investment bank Clipperton is pleased to announce that it acted as sole financial advisor to Matooma on its sale to Wireless Logic Group, Europe’s leading IoT connectivity platform provider backed by Montagu Private Equity.

Founded in 2012 by Frédéric Salles, John William Aldon and Nadège Salles in Montpellier, Matooma has grown rapidly since its inception and is now recognised for its expertise and innovation within the cellular IoT (Internet of Things) connectivity space, with a broad base of customers using their secure network solutions across multiple applications.

With Matooma, Wireless Logic now has an increased presence in France, and will enhance its European reach which includes offices in Denmark, France, Germany, Netherlands and Spain.
“We are delighted to be welcoming the Matooma team into the group. In just seven years, they have built an enviable reputation in France by delivering highly responsive and tailored IoT connectivity services, supported by exceptionally strong leadership.” commented Olivier Tucker, Group CEO of Wireless Logic. He added: “Over the coming months our integration program will enable the group to enhance our best-in-class connectivity platform solutions to which Matooma will play a significant role, particularly within their core markets.”

On behalf of Matooma, founder and CEO Frédéric Salles said: “Clipperton’s value added throughout the process was very important, their excellent understanding of our business as well as their expertise in the area proved critical in our search for strategic partners. We are looking forward to combining our strengths with Wireless Logic and together building an even more exciting future as we develop and evolve the IoT connectivity market across France and further afield.”

Thomas Neveux and Antoine Ganancia – the partners in charge of managing the transaction – commented “We are very proud to have accompanied a leading French IoT group such as Matooma, and to have contributed to the emergence of a global IoT connectivity champion in Europe”.

Financial advisors for Matooma: Clipperton

Legal advisors for Matooma: EY

About Clipperton

Clipperton is a European independent corporate finance advisory firm exclusively dedicated to the Technology space, advising high growth companies on M&A transactions, debt financings and equity offerings. With offices in London, Berlin, and Paris and an international reach, Clipperton is a European leader in Technology financial advisory. Over the past 15 years, the team has successfully completed more than 300 high profile transactions globally. For more details please visit [ clipperton.net]( http://clipperton.net )

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