Share talk18 Feb 2017 12:19
Steve shares covered a number of businesses in previous issues and one that was well followed is TERN PLC (TERN) @Liamdillon_liam has again provided us with a comprehensive update and his thoughts on the business going forward.
In his initial summary on Tern (10p – MC of £11 million) He indicated that Tern weren’t very good at appraising the market on developments. That continues to be the case, much to the frustration of pi’s. Tern have at least updated what was a pretty amateur website.
However their flagship investment partner of which they own approx 57% partner have been providing updates via their own website.
People… They continue to attract very high calibre people as they grow the business, notably George Samenk ex CEO of McAfee who has joined as a non executive director.
Share Price… The share price has moved from October lows coinciding with a presentation Device Authority gave to the Tern broker Whitman Howard in mid January.
Developments… Device Authority continue to grow an impressive list of partnerships, recently adding AXIS, Amazon Web Services, General Electric and AT&T to add to PTC, Intel, Dell, IBM, Cumulocity and Symantec and Digicert who are a fast growing and award winning certificate authority recently launched Automated Device Provisioning ( powered by Device Authority ), and won an award at this weeks RSA security conference for best Medical Cybersecurity product. Interesting to see if Device Authority are part of that offering in what is a potentially lucrative market. And Dell and Device Authority recently hosted a webinar on securing IP surveillance cameras, again within a potentially lucrative market.
Potential for share price movement.
The market is waiting on some indication of revenues and/or increasing numbers of devices secured. Device Authority are certainly exposed to most of the major players in the internet of things (IOT). The market is forecast to really take off in 2017 as companies start to scale up trials. Product releases with only one or two of their partners should ensure a significant rerate in the share price.
Risks and Competition
With any growing company that may require funding there is the risk of placings. Last one was hugely discounted at 7p and that is a factor that limits the share price at the moment. However with Samsung as an advisor the hope is that either they or another tech company will invest directly into Device Authority.
In terms of competition there are lots of small and larger companies with claims of offering IOT security, and indeed Device Authority could be ranked alongside them. But the calibre of people on the Device Authority team would suggest there is something very interesting in their offering. And interesting that PTC with their own Axeda security offering regularly promote Device Authority as their security provider for their Thingworx platform.
Time will tell if Device Authority is the r
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