Triton Backs Wavelynx Technologies’ Growth in Access Control Solutions

Triton Backs Wavelynx Technologies’ Growth in Access Control Solutions

(IN BRIEF) Funds advised by Triton have entered into an agreement to support the growth of Wavelynx Technologies, a leader in mobile-first identity and access control solutions. Wavelynx specializes in open hardware and software for access control, including readers, controllers, and mobile credentials. The terms of the transaction, involving Triton and Wavelynx’s co-founders and management, have not been disclosed. Wavelynx will continue as an independent portfolio company under Triton.

(PRESS RELEASE) OSLO, 17-Oct-2023 — /EuropaWire/ — Funds advised by Triton (“Triton”) have signed an agreement to back the next phase of growth for Wavelynx Technologies (“Wavelynx” or “the Company”), a leader in the field of secure and open mobile-first identity and access control solutions. The terms and conditions of the transaction, which sees Triton and Wavelynx’s co-founders and management invest alongside each other in partnership, are not disclosed. Wavelynx will be an independent Triton portfolio company.

Wavelynx operates in the fast-growing access control market, designing, developing and assembling mission-critical open hardware and software, including readers, controllers, and mobile credentials. The Company is a first-mover and pioneer in leading the physical security industry towards the adoption of mobile-first access control.

Wavelynx is differentiated due to its innovative solutions, strong technology capabilities, and highly experienced management team. The Company also benefits from key emerging trends in security, including the fast penetration of mobile-first technology and cloud-based security, and the industry’s transition towards interoperability and open system architecture.

Triton intends to work in close partnership with Wavelynx’s management and co-founders, applying 25 years of experience in Industrial Tech investing and security expertise, to accelerate the Company’s growth trajectory and success to date. Wavelynx will remain an independent business.

Sachin Jivanji, Investment Advisory Professional at Triton, said: “Physical Security is a key focus area for Triton. Our dedicated team of investment professionals and industry experts were able to identify Wavelynx as a platform that is on the right side of a number of the megatrends backing the sector and a company with a unique culture of innovation. We look forward to supporting the world-class team around Hugo Wendling and Robert Lydic to jointly continue the Wavelynx success story.”

Hugo Wendling, Chief Executive Officer of Wavelynx, said: “This newly formed partnership allows Wavelynx to accelerate its growth and double down on its commitment to its customers to remain independent and to continue to develop the most advanced and valuable technologies for the commercial security market. This investment will accelerate innovation at Wavelynx, giving our group access to additional operational expertise and significant capital to take our business to new levels of technology and growth. With Triton’s strong commitment to the Security industry and its team’s intricate understanding of it, we will further develop our technology proposition, invest in new products and talent, scale our operations globally, and consider acquisition opportunities that complement our offering.”

About Wavelynx

Wavelynx is an open and secure access control platform that allows businesses to modernize their authentication technology at the pace and path that is right for their business.

We were founded on the belief that simplicity and flexibility are the best path forward to simplify the integration of legacy, current and future technologies. That credentials should seamlessly integrate into your workflows, that key management should be simpler to administer, and that migration should be at the pace and path that is right for your business. And now, we’re forging the path forward on mobile as Wavelynx is the first to bring access to the Wallet across the leading global platforms. Our solutions are engineered as open and interoperable, setting customers up for success both now and in the future.

To learn more about Wavelynx, please visit: https://www.wavelynxtech.com/

About Triton

Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on businesses that provide important goods and services in the Business Services, Industrial Tech, Healthcare, and Consumer sectors.

Triton has over 200 professionals across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.

To learn more about Triton, please visit: www.triton-partners.com

Media Contact:

Triton
Fredrik Hazén
Phone: +46 709 483 810

SOURCE: Triton Investments Advisers LLP