February 2008

Transaction Background

Ezurio is a supplier of Bluetooth and 802.11 (WiFi) embedded RF modules and Machine to Machine (M2M) solutions for wireless data communication applications in Retail, Automotive, Healthcare and other market sectors.

3i’s investment in Ezurio allowed the business to build on its position in the Bluetooth market which had grown strongly in the years preceding the MBO.

Headquartered in London, Laird Technologies is a quoted company focused on design, manufacture and supply of products and services to the electronics industry. The acquisition of Ezurio allowed Laird to offer a wider range of RF modules and complete end-to-end M2M solutions.

Our Role

In 2004 Clarity advised the management of Ezurio on the MBO from TDK Corporation backed by 3i. In 2008 Clarity advised Ezurio’s management on the sale of the company to Laird Technologies.

Clarity handled the original negotiations with Japan-based TDK Corporation, and introduced TDK and the management team of Ezurio to 3i, who in turn brought in a non-executive chairman and a new CEO to the business.

Clarity maintained the relationship with Ezurio over a period of more than 4 years and ultimately advised the management team on the tactics of engaging with Laird and the conversion of the offer into a completed transaction.

“Clarity have consistently offered us sound, independent advice over more than four years. This transaction represents an excellent outcome for all concerned.”

Chris Shannon