Tern Portfolio Firm flexiOps Buys Mesh Networking Outfit Wyld Research30 Apr 2020 03:05
Alliance News | 13 September, 2017 | 10:54AM
LONDON (Alliance News) - Tern PLC said Wednesday that Wyld Technologies Ltd, a
wholly owned ...
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LONDON (Alliance News) -
Tern PLC said Wednesday that Wyld Technologies Ltd, a wholly
owned subsidiary of its portfolio firm flexiOps Ltd, has acquired Wyld Research Ltd.
Wyld Technologies will pay GBP78,000 plus a 10% stake in itself.
Gene Myers, chief executive officer and founder of Wyld Research, will take up the role of chief technical officer of Wyld Technologies.
Wyld Research has developed a mesh networking software platform for use with mobile phones and connected devices.
Wyld Technologies is forecast to achieve revenue of GBP350,000 in its first year, Tern said. "I am delighted that Wyld has joined the Tern portfolio. The Wyld platform is solving a significant challenge for disruption and emergency information, providing a means of communicating when the internet is unavailable, without extensive network infrastructure. It is also a valuable way for IoT devices to transmit data," said Tern Chief Executive Officer Al Sisto in a statement.
Shares in Tern were up 6.5% at 5.72 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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