Montagu has brought in General Atlantic as a minority shareholder in Wireless Logic in a transaction that values the UK-based IoT connectivity specialist at £3.5bn.

The investment, made through General Atlantic’s BeyondNetZero climate growth fund, marks a strategic partnership to support the company’s continued global growth.

Montagu will remain the majority investor in Wireless Logic and is reinvesting alongside General Atlantic. The deal is expected to close in Q3 2025, subject to customary approvals.

Founded in 2000, Wireless Logic is a global leader in Internet of Things (IoT) connectivity, offering secure and scalable solutions across multiple industries. The company is aligned with the Science Based Targets initiative and plays a key role in enabling climate and energy transition applications, from smart grids and micro-mobility to precision agriculture.

The new partnership is designed to drive further international expansion and platform enhancement through a combination of organic growth and transformational M&A. Wireless Logic is expected to accelerate its footprint across Europe, North America, Latin America, and Asia-Pacific.

General Atlantic brings strategic expertise and international scale to the business, including the involvement of Vice Chairman of EMEA, Vittorio Colao, former CEO of Vodafone and Italian Minister for Digital Transition, who joins the board alongside Chairman Sir Michael Rake.

“Wireless Logic, Montagu, and General Atlantic share a collective ambition to reinforce Wireless Logic’s market leadership and simplify IoT connectivity for customers globally,” said Oliver Tucker, Co-Founder and CEO of Wireless Logic.

Montagu first invested in Wireless Logic in 2018. “This reinvestment demonstrates our continued confidence in Wireless Logic’s exceptional growth trajectory,” said Ed Shuckburgh, Managing Partner and CEO at Montagu.

Gabriel Caillaux, Co-President and Head of EMEA at General Atlantic, added: “Wireless Logic has positioned itself as a leader in the rapidly expanding IoT market and is a key enabler of the climate transition. We see strong opportunities for growth through M&A and geographic expansion.”

Montagu was advised by Rothschild & Co and Freshfields. General Atlantic was advised by William Blair, Weil Gotshal & Manges, and Analysys Mason.

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