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TERN Tern Plc

2.55
0.35 (15.91%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tern Plc LSE:TERN London Ordinary Share GB00BFPMV798 ORD 0.02P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.35 15.91% 2.55 2.50 2.60 2.65 2.15 2.20 6,610,875 16:16:13
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 66k -10.45M -0.0269 -0.97 10.1M

Tern Plc Statement Re Heads Of Terms Agreed On Acquisition

04/07/2017 7:01am

UK Regulatory


 
TIDMTERN 
 
   4 July 2017 
 
   Tern Plc (AIM: TERN) 
 
   Heads Of Terms agreed on Acquisition 
 
   Tern Plc (AIM:TERN), the investment company specialising in Internet of 
Things (IoT), announces that its portfolio company flexiOps Ltd 
(flexiOps) has signed a term sheet to acquire the assets of Wyld 
Research Ltd (Wyld). 
 
   Upon completion, flexiOps will acquire all of the assets including the 
intellectual property of Wyld Research for GBP70,000 and Gene Myers, the 
founder and CEO of Wyld, will become the Chief Technical Officer of 
flexiOps.  The final agreement is expected to be completed by 31 July 
2017. 
 
   Wyld is a wireless Platform-as-a-Service (PaaS) company that bundles 
together software, services and support using Software Developer Kits 
(SDKs) that support Apple ioS and Google Android platform devices using 
the WyldMesh Fusion applications program interface (API) to enable mesh 
networking capabilities for IoT and Machine to Machine (M2M) to connect 
their devices. 
 
   Albert Sisto, CEO of Tern Plc, said: 
 
   "We believe the acquisition of Wyld by flexiOps will provide it with a 
product platform to accelerate its top line growth and enhance its 
mission of developing unique technology for use by the Tern portfolio of 
companies. 
 
   "With the proliferation of the Internet of Things, the focus on reliable 
and secure connectivity is high on the agenda for application developers 
and systems integrators. Mesh networks allow them to provide smart 
cities, critical infrastructure, large enterprises, transportation 
systems and industrial plants with the means to achieve these goals and 
particularly over large or confined areas." 
 
   Enquiries 
 
 
 
 
Tern Plc                                          via Redleaf 
 Al Sisto/Sarah Payne 
 
  WH Ireland                                        Tel: 0117 945 3470 
  (NOMAD and joint broker) 
  Mike Coe/Ed Allsopp 
 
  Whitman Howard                                    Tel: 020 7659 1234 
  (Joint broker) 
  Nick Lovering/Francis North 
 
  Redleaf Communications                            Tel: 020 7382 4730 
  Rebecca Sanders-Hewett/David Ison/Elise Palmer 
 
   Advantages of a mesh network 
 
   Mesh networks allow applications developers to create a network where 
each computer and or network device is interconnected with one another, 
allowing for most transmissions to be distributed, even if one of the 
connections go down. A failure of one device does not cause a break in 
the network or transmission of data. Adding additional devices does not 
disrupt data transmission between other devices and it can handle high 
amounts of traffic, because multiple devices can transmit data 
simultaneously. Mesh networks also operate in environments were 
traditional wireless (WIFI) networks are not viable. 
 
   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 
contained therein. 
 
   Source: Tern Plc via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

July 04, 2017 02:01 ET (06:01 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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