Tern PLC: Contract Win for Device Authority

Tern PLC 
Tern PLC: Contract Win for Device Authority 
 
06-Aug-2020 / 07:00 GMT/BST 
 
      Non-regulatory announcement 
 
6 August 2020 
 
      Tern Plc ("Tern" or the "Company") 
 
      Contract Win for Device Authority 
 
 Tern Plc (AIM:TERN), the investment company specialising in the Internet of 
   Things ("IoT"), is pleased to announce that its portfolio company, Device 
 Authority ("DA"), has entered into a contract with a value of approximately 
     GBP200,000 with one of the largest global automotive component and safety 
  technology manufacturers ("the Client"), alongside its Technology Alliance 
            Partner, nCipher. 
 
 The agreement will see DA and nCipher provide IoT security solutions to the 
 Client by way of a Key Management Solution. DA's KeyScaler platform sits at 
       the heart of the Key Management Solution and nCipher will provide the 
 Hardware Security Modules. By combining their technologies, the Client will 
        be able to securely generate and import keys from Original Equipment 
    Manufacturers ("OEMs") before storing and distributing the keys to their 
   remote manufacturing lines for injection into their electronic automotive 
            components on the production line. 
 
            Tern's CEO Al Sisto said: 
 
"This is an important contract for DA which validates the superiority of its 
 technology and its use in the automotive sector. We are delighted with this 
          contract win with a leading global automotive component and safety 
  technology manufacturer. The current COVID-19 pandemic has accelerated the 
   technology trends that we were already observing in the industrial sector 
    and with increased automation comes a much higher need for best-in-class 
   security solutions. Through our investment in DA, which is partnered with 
  leading players such as nCipher, PTC and Microsoft, Tern is ideally placed 
            to capitalise on this." 
 
            About EQS Corporate News announcements 
 
        This is an EQS Corporate News announcement. EQS Corporate News is an 
       investor communication service aimed at assisting listed and unlisted 
    (including AIM quoted) companies to distribute media only/non-regulatory 
 news releases such as marketing messages, corporate and product information 
   into the public domain. Information required to be notified under the AIM 
   Rules for Companies, Market Abuse Regulation or other regulation would be 
     disseminated as an RNS regulatory announcement and not on EQS Corporate 
            News. 
 
      **ENDS** 
 
Enquiries 
 
Tern Plc                              via Newgate Communications 
 
Al Sisto/Sarah Payne 
 
Allenby Capital Limited                       Tel: [phone] 
 
(Nomad and Joint broker) 
 
David Worlidge/Alex Brearley 
(Corporate Finance) 
 
Guy McDougall (Equity Sales) 
 
                       Whitman Howard         Tel: [phone] 
 
                       (Joint broker) 
 
    Nick Lovering/Christopher Furness 
 
               Newgate Communications         Tel: [phone] 
 
        Elisabeth Cowell/Megan Kovach 
 
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
End of Announcement - EQS News Service 
 
1110393 06-Aug-2020 
 
 

(END) Dow Jones Newswires

August 06, 2020 02:00 ET (06:00 GMT)