RE: GCE Invma ptc DA2 May 2018 09:56
16 November 2017
Tern Plc
(AIM: TERN)
Device Authority Contract Win
Tern Plc (AIM:TERN), the investment company specialising in the Internet
of Things (IoT), is pleased to announce that its investee company,
Device Authority Limited ("Device Authority"), has signed a three year
global OEM agreement ("the Agreement") with Comodo CA ("Comodo"), a
global innovator and developer of cybersecurity solutions and a
worldwide leader in digital certificates.
With more than 85 million desktop security software installations,
700,000 business customers and 8,000 global partners and affiliates,
Comodo is building a new IoT security services platform ("the Platform")
which will be powered by Device Authority's KeyScaler technology.
This agreement, which will see KeyScaler supporting Comodo's ambition to
build on its position as one of the world's largest certificate
authority organisation by expanding the traditional use of Public Key
Infrastructure ("PKI"), provides further validation of the Device
Authority's product suite.
The companies will work together to complete the integration of
Keyscaler with the IoT Platform, before agreeing a launch date. Revenues
are expected to be generated from 2018 and as this contract is based
upon on a revenue share percentage between the companies, there is
minimal financial commitment in the agreement. All sales of the
integrated Platform will provide Device Authority with a royalty
payment.
The Comodo Platform will be automated, and will allow PKI certificates
to be managed throughout the entire lifecycle at volumes that can scale
for the IoT market. It will deliver:
-- Enhanced PKI customer experience in ordering, tracking, receiving and
injecting of certificates onto devices;
-- The ability to prevent cloning or counterfeiting either as a base service
or in conjunction with use of TPM;
-- Post device deployment (aftermarket) credential management services;
-- 'Retrofix' of old, insecure certificates or keys on the devices already
deployed through a firmware upgrade procedure;
-- Code signing and secure update service; and
-- Integrity validation check service
Albert Sisto, CEO of Tern Plc, said:
"This contract win is very gratifying and is testament to the innovative
nature of Device Authority's technology and platform. We are delighted
to have such a significant investment in a Company which has the ability
to solve important security and operational issues for IoT eco-systems,
and we are excited about the access to market opportunities implied by
this partnership with Comodo."