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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 6,795,875 16:16:13
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 66k -10.45M -0.0269 -0.95 9.91M

Tern Plc Statement Re Acquisition

13/09/2017 7:00am

UK Regulatory


 
TIDMTERN 
 
   13 September 2017 
 
   Tern Plc (AIM: TERN) 
 
   Acquisition 
 
   Tern Plc (AIM:TERN), the investment company specialising in the Internet 
of Things (IoT), is delighted to announce that, following the RNS 
announcement on 4 July, Wyld Technologies Limited, a wholly owned 
subsidiary of Tern's portfolio company flexiOps Limited (flexiOps), has 
completed the acquisition of the assets, including the intellectual 
property, of Wyld Research Limited ("Wyld") for GBP78,000 and 10% of 
Wyld Technologies Limited.  Gene Myers, the founder and CEO of Wyld, 
will become the Chief Technical Officer of Wyld Technologies Limited. 
 
   Wyld Technologies Limited is forecast to achieve revenues of 
approximately GBP350,000 in its first year. 
 
   Wyld has developed a proven mesh networking software platform.  Mobile 
mesh networks can be thought of as a collection of nodes where each node 
is directly connected to other nearby nodes. These nodes, such as mobile 
phones and devices, not only send and receive data, but also relay data 
on behalf of the network, extending the reach of the network beyond the 
directly connected devices. 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 where 
traditional wireless (WIFI) networks are not viable. 
 
   Al Sisto, CEO of Tern Plc, said: 
 
   "I am delighted that Wyld has joined the Tern portfolio.  The Wyld 
platform is solving a significant challenge for disruption and emergency 
information; providing a means of communicating when the internet is 
unavailable, without extensive network infrastructure.  It is also a 
valuable way for IoT devices to transmit data." 
 
   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 
  David Ison/Elisabeth Cowell 
 
 
 
   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

September 13, 2017 02:00 ET (06:00 GMT)

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

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