LONDON (Alliance News) - Tern PLC on Tuesday said its investee company, data security firm Cryptosoft Ltd, has named Dan McDuffie as a board advisor.
McDuffie was group chief executive of Wyless Inc, a machine-to-machine and Internet of Things company. He has a career spanning more than 20 years in the technology industry.
Alongside McDuffie's appointment Cryptosoft also launched the latest version of its data encryption platform, which adds support for Device Authority Inc's D-Factor technology. This allows customers to authenticate and encrypt data payloads, including those from unmanned devices.
"Our premise has always been that application developers and network administrators must be able to secure data and devices across the IoT and M2M ecosystems in a way that isn't confined by the approaches associated with traditional PKI architectures," said Jon Penney, chief technology officer and founder, Cryptosoft.
"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," he added.
Shares in Tern were up 10.5% at 13.68 pence on Tuesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Tern (TERN)