Device Authority has also received important international industry recognition.
Research firm Gartner has named the company a 2016 "Cool Vendor" and at InfoSecurity Europe 2016 Device Authority was named the UK's Most Innovative Small Cyber Security Company by a panel that included judges from Cisco, IBM and Microsoft.
The pace at which Device Authority continues to secure new contracts is increasing, said the group.
Tern estimates that the potential for these contracts is for over 70,000 devices.
Device Authority has been selected to be part of Dell's IoT Solution Partner Program.
The Dell IoT Solutions Partner Program is a network of domain experts to enable distributed IoT solutions for Commercial and Industrial use cases.
Device Authority is also to become a member of the Intel Strategic Alliance program.
Tern also announced the appointment of George Apostol, as advisor to the board.
Apostol brings to the board 30 years of experience in design and management in a variety of complex electronic system products.