Triton invests in Wavelynx Technologies

Broomfield (USA), 16 October 2023 – 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.”