The latest version of security specialist Cryptosoft's platform offers a game changing solution to the problem of security in the IoT (Internet of Things) arena, says Tern (LON:TERN)
Tern owns 95% of Cryptosoft, which also today announced it had appointed Dan McDuffie, an IoT visionary, as a board advisor.
"With today's announcement, we are solving a critical industry problem." said Cryposoft's chief executive Darron Antill.
"The many benefits promised by Machine-to-Machine communications and the Internet of Things will not be held back by security concerns. The era of cost-effective, reliable enterprise security, for the IoT and M2M market has now arrived..."
The IoT is where devices, products and services can communicate with each other and with other people over a network.
In recent months, numerous headlines have questioned whether reliable security solutions for IoT and M2M devices can be developed, noted Tern.
These have included the notion of hackable machines like cars and escalators, that could potentially be controlled for malicious ends remotely.
The new release of V4 now offers five central elements needed to deploy secure products, said Tern.
These are - policy driven authentication of the user accessing the data; strong encryption around transmission and storage of IOT and M2M data within enterprise networks.
Thirdly, the ability to deploy this solution with all types of devices; the ability to provide and update software and devices Over the Air (OTA) or Over the Internet (OTI), and an offering that is available at a cost-effective price.
"By managing and distributing keys with easy scalability, the Cryptosoft platform, now incorporating the Device Authority technology, is a game changing solution to this problem," added Antill.
"Cryptosoft is one of the most exciting companies I have seen in a long time," said McDuffie, who was group chief executive of Wyless - a global leader in the M2M and IoT Managed Services market.
He has a career spanning more than 20 years in the technology industry.
Tern shares added over 10% in early deals to stand at 13.625p.