15 February 2017
George Samenuk invests in Device Authority Limited
Tern Plc (AIM:TERN), the investment company specialising in the Internet
of Things, is pleased to provide an update on Device Authority Ltd
("Device Authority"), one of its investee companies.
George Samenuk, former Chairman and CEO of McAfee, who joined Device
Authority's board as a Non-Executive Director in January 2017, has
subscribed GBP50,000 for 134,042 Class A Preference Shares at the same
price as the shares were issued at in October 2016. All Class A
Preference shareholders waived their pre-emption rights. Following this
transaction Tern's percentage of the issued share capital of Device
Authority is 56.8% (previously 56.9%).
Al Sisto, chairman of Device Authority, said "We welcome George's
investment as a sign of his commitment to Device Authority and
confidence in the success of the business.
Tern plc Tel: 020 3807 0222
Angus Forrest / Al Sisto
WH Ireland Tel: 0117 945 3470
(NOMAD and broker)
Mike Coe / Ed Allsop
Whitman Howard Tel: 020 7659 1234
Nick Lovering/ Francis North
About Device Authority
Device Authority provides simple, innovative solutions to address the
challenges of securing the Internet of Things (IoT). We help our
customers simplify the process of establishing a robust, end-to-end
security architecture within the IoT and deliver efficiencies at scale
through security automation. The KeyScaler(TM) IoT security platform is
purpose-built to address these challenges through automated device
provisioning, credential management, secure updates and policy-driven
It has offices in Fremont, California and Bracknell, UK, Device
Authority partners with the leading IoT ecosystem providers, including
PTC http://www.ptc.com/ , DigiCert http://www.digicert.com/ , Dell
Symantec http://www.symantec.com/ and Intel
Tern Plc acquires and invests in privately owned companies with IP,
established products and customer bases. Its investment strategy is
focused on taking an active role in its investee companies in order to
improve the business model, accelerate growth, expand the business
globally and identify exit opportunities.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
Source: Tern Plc via Globenewswire
(END) Dow Jones Newswires
February 15, 2017 02:00 ET (07:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.