Tern PLC's (LON:TERN) Internet of Things (IoT) subsidiary Device Authority continues to make waves - as it announced a three year contract win for its new security product KeyScaler(TM).
The technology will be used with the remote management of industrial machinery and has a minimum value of US$300,000 and there is an expected uptake over the life of the contract.
KeyScaler provides a single, comprehensive software security offering for IoT applications.
Among other key features, it has an automated registration process for onboarding of IoT devices without the need for human intervention.
It also provides revenue protection capability to the customer to stop revenue leakage on any large scale network of devices and enables companies to continuously monitor large-scale networks of devices globally.
Tern uses partners to sell its solutions so the partner incorporates Device Authority technology within its own offering.
Over the last 12 months the number of partners has grown from to eight from two and now includes Cumulocity, Dell IoT Solutions, Digicert, Intel, Symantec and ThingWorx.
Tern shares added 3.7% to 10.5p in early deals.