Tern Share News (TERN)

LONDON (Alliance News) - Investment company Tern PLC, which specialises in the cloud and mobile sectors, Thursday said it has invested GBP50,000 in Push Technology Ltd for a 0.5% stake in the business.

In a statement, Tern said that Push specialises in secure real-time distribution of data to web and mobile applications on any smartphone, tablet, computer or similar device. Its goal is to help businesses to deliver real-time marketing information to customers through a range of devices. Its clients include Betfair, Betdaq, Compliant Phones, Lloyds Bank, Oddschecker, Racing Post, Sportingbet, Tradition and William Hill.

"We believe demand for Push Technology's products will rise in line with the demand for internet bandwidth and the requirement for time sensitive data. Its technology will be increasingly licensed for incorporation in other products," Chairman Angus Forrest said in a statement.

In addition, Tern noted that Flexiant Ltd, in which it invested GBP100,000 for a 1% stake back in November, recently acquired Tapp Technology, a multi-cloud management business which allows users to manage the outsourcing of server infrastructure to the cloud.

Tern shares were midday Thursday quoted up 4.6% at 1.70 pence.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

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