Technology investor Tern (LON:TERN) said its portfolio company Cryptosoft has joined the partner programme of machine-to-machine (M2M) application development platform, ThingWorx.
ThingWorx claims to be the first software platform designed to build and run the applications of the connected world (the “Internet of Things”, or IoT).
The integration of Cryptosoft’s data security technology in the ThingWorx platform will enable developers to incorporate policy-based data-centric encryption and device authentication for every connected device in IoT applications built using ThingWorx.
“The Cryptosoft solution will provide ThingWorx customers with the ability to secure their most important asset: their data, as it moves from device to device," explained Darron Antill, the chief executive of Cryptosoft.
Cryptosoft is the only partner that offers a data-centric layer of security to the ThingWorx platform, Tern said.
David Canavan, vice president of Partner Development at ThingWorx, added: The data security solutions offered by Cryptosoft on a global basis will help ThingWorx customers accelerate the real, tangible benefits of implementing IoT-based solutions."
Tern, which specialises in investing in the Cloud and mobile technology sectors, owns 100% of the ‘A’ class shares in Cryptosoft, while Cryptosoft’s management owns all of the ‘B’ shares. In the event of a sale of the business, Tern will be entitled to 75% of the net proceeds.