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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 |
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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