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Tern PLC
Tern PLC: Device Authority Contract Win
11-Dec-2018 / 12:30 GMT/BST
*This is a non-regulatory announcement* *which is not considered to be price
sensitive to Tern plc. *
*11 December 2018*
*Tern Plc (the "Company" or the "Group")*
*Device Authority Contract Win*
Tern Plc (AIM: TERN), the investment company specialising in the Internet of
Things ("IoT"), announces that its portfolio company, Device Authority
("DA"), has been selected to deliver a minimum of 500 KeyScaler licences per
annum to 3D Systems (NYSE: DDD), a US company which engineers, manufactures
and sells 3D printers, to protect its 3D Connect Service.
Under the terms of the contract, it is renewable on an annual basis. This
contract leverages DA's partnership with PTC, as the PTC ThingWorx IoT
platform is already being utilised by 3D Systems. KeyScaler has been
selected to differentiate and elevate 3D Systems' service offering and to
ensure that its customers, which cover a range of industries including
healthcare, dental, automotive and aerospace, are not exposed to
vulnerabilities which could cause downtime and IP/ data theft.
Whilst the fees payable under the contract are not material to Tern, this
contract win demonstrates additional traction by DA's sales force and sees
Tern's portfolio company enter an exciting and growing segment of the IoT
market.
*Al Sisto, CEO of Tern, said, *"This is a strategically strong move for DA
which sees them enter a key IoT market. 3D printing is a highly exciting,
growing industry, although concerns about security are justified. With this
in mind, we are delighted to see KeyScaler being implemented by 3D Systems,
which has chosen DA's technology with its customers' security firmly in
mind."
*Enquiries *
*Tern Plc* via Newgate Communications
Al Sisto/Sarah Payne
*Newgate Communications* Tel: 020 3757 6880
Elisabeth Cowell/Fiona Norman
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End of Announcement - EQS News Service
756627 11-Dec-2018
(END) Dow Jones Newswires
December 11, 2018 07:30 ET (12:30 GMT)
