Tern PLC - Portfolio Update
("Tern" or the "Company")
Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to provide an update on the recent activities of the Company and its principal portfolio companies.
· Recent expansion of the Tern portfolio, following a
· In response to the COVID-19 pandemic, Wyld Networks has recognised an additional application of its technology to monitor, alert and measure social distancing to help reduce the spread of viruses such as COVID-19 and Influenza in multiple sectors. This technology combines Wyld Mesh and Wyld Connect. Wyld Networks has specifically developed a technology with support from NHS Highland and Highland Health Ventures for deployment into care homes. The first care home deployment is expected to commence in late
· Wyld Networks has further progressed its solution for combined terrestrial and satellite LPWAN IoT connectivity for deployment where there is no internet or the internet is congested. The company received an initial order in
"2020 is proving to be a year of uncertainty, but one of significant opportunity. Tern was quick to react to the challenges of COVID-19 by creating a round table of our portfolio CEOs and Tern's board to respond to the "new normal" by leveraging the synergies of our portfolio companies. Our investee companies created safe and productive work environments to focus on the opportunities created by the accelerated adoption of technology.
"Today, the continued uncertainty created by the COVID-19 crisis is only serving to fuel the transition to digital solutions which are creating new opportunities for our portfolio companies to participate in. Participating with our companies individually and at our round table has enabled Tern to continue to play an important role in helping our CEOs maintain their teams and to rapidly create new solutions for their customers to address the digital transformation and contactless requirements.
"The pandemic's acceleration of the shift to online activity is evident in everything from online telehealth visits, remote monitoring and tracking, online education and training to the global need to secure the new online infrastructures. It has helped produce an opportunity rich environment in the IoT sector which has resulted in a new investment for the Company as well as a healthy pipeline of future opportunities. I am excited by recent developments at our portfolio companies and we believe that Tern's portfolio is well positioned to benefit from new market requirements driven by these long-term trends. We look forward to providing further regular updates on the Company and its portfolio."
Detailed Portfolio Update
Device Authority Limited ("DA")
Tern holding: 56.8% A shares
Tern has a 56.8% holding in DA (A shares), which specialises in IoT security, and as at
DA has recently made changes to its board with
DA continues to build on its technology integrations and support for Microsoft and recently announced functionality to automate certificate management for Microsoft Azure Sphere devices. This provides an automatic way to certify devices that are connecting different constituents, including Microsoft and non-Microsoft assets, in operations.
Tern holding: 26.9%
Sector: Healthcare IoT
Tern's shareholding in FundamentalVR is 26.9% and as at
InVMA Limited ("InVMA")
Sector: IoT enablement
Tern has a 50% holding in InVMA and as at
Since appointing its new CEO,
Wyld Networks Limited ("Wyld Networks")
Sector: IoT enablement
Invested Since: June 2016
Tern has a 100% holding in Wyld Networks and as at
Wyld Networks market a portfolio of solutions with broad application in multiple sectors leveraging its patent pending technology. This portfolio includes:
Terrestrial and Satellite IoT - Wyld Connect
Wyld Connect has a solution for combined terrestrial and satellite Low Power Wide Area Network (LPWAN) IoT connectivity for deployment where there is no internet or where the internet is congested. Early this year the company signed a co-design co-development and co-marketing agreement with a global satellite operator for a satellite IoT module and received an initial order in
Tern's Board believes that the low earth orbit nano satellite IoT market presents a significant opportunity for Wyld Networks and a recent report forecasts the global market for satellite IoT solutions to grow to
Branded consumer wireless mesh networks - Wyld Mesh
Wyld Mesh connects smartphones directly to smartphones without the need for 4G or WiFi, allowing brands to build their own wireless networks with the aim of improving their customer's experience and generating new revenue streams through location-based marketing and the data generated. In the consumer sector this has applications in retail, sporting and entertainment venues.
The global location-based advertising market was valued at
Covid-19 social distance monitoring and alerting networks - Wyld Mesh and Wyld Connect
In response to the COVID-19 pandemic, Wyld Networks has recognised an additional application of its technology to monitor, alert and measure social distancing to help reduce the spread of viruses such as COVID-19 and Influenza in multiple sectors. Wyld Networks has focussed on combining Wyld Mesh and Wyld Connect to create a solution to monitor, alert and measure social distancing in multiple sectors. Wyld has specifically developed a technology with support from NHS Highland and Highland Health Ventures for deployment into care homes. The first care home deployment is expected to commence in late
The technology has additional potential applications in university halls of residence, retail, health care, hospitality, and general commercial/business premises and is designed to enable people to work safely against the backdrop of COVID-19 and to assist employers in providing a duty of care to both employees and customers.
Tern will provide further updates on the deployment of this technology in due course.
Enterprise wireless mesh networks - Wyld Mesh and Wyld Connect
Wyld Networks also has a wireless mesh network solution for enterprises, which combines Wyld Mesh and Wyld Connect. This solution provides wireless networks connecting both people to people and people to IoT devices in a mesh network, with the aim of improving operational efficiency in enterprise communications.
Wyld Networks continues to deliver solutions against its existing contracts with Delta-T, Develco, RCD, CADIS, Eltek and Envirosystems, among others.
Talking Medicines Limited ("TM")
Tern holding: 23.4%
As announced on
TM harnesses the voice of the patient from the growing proportion of the world's population who are active on social media and who are using health devices. Through a combination of artificial intelligence and machine learning, coupled with natural language processing technologies, TM decodes rich patient intelligence at scale. TM's new artificial intelligence data service is designed to translate what patients are saying into actionable intelligence by providing a global patient confidence score by medicine. This addresses the need for pharmaceutical companies, insurance providers and pharmacies to understand their patients in a real world environment. By mapping the intelligence on what patients think about their medicines and how they are taken, TM's customers can drive more efficient marketing and better health outcomes.
The recent investment round will enable the company to scale up its team, particularly in relation to natural language processing data science and engineering, with the aim of accelerating the product roadmap, and expanding the customer base, both within
Online Investor Presentation and Q&A Session
Tern's management will be hosting an online presentation and Q&A session regarding the latest developments with the Company and its portfolio at
via IFC Advisory
Allenby Capital Limited
(Nominated Adviser and Broker)
Tel: 0203 328 5656
(Financial PR and IR)
Tel: 0203 934 6630
Quick facts: Tern PLC
Market Cap: -
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