Last checked at 11 Dec 2018 12:30
Tern PLC Tern PLC: Device Authority Contract Win 11-Dec-2018 / 12:30 GMT/BST This is a non-regulatory announcement which is not considered to be price sensitive to Tern plc. 11 December 2018 Tern Plc (the "Company" or the "Group")Device Authority Contract Win Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things ("IoT"), announces that its portfolio company, Device Authority ("DA"), has been selected to deliver a minimum of 500 KeyScaler licences per annum to 3D Systems (NYSE: DDD), a US company which engineers, manufactures and sells 3D printers, to protect its 3D Connect Service. Under the terms of the contract, it is renewable on an annual basis. This contract leverages DA's partnership with PTC, as the PTC ThingWorx IoT platform is already being utilised by 3D Systems. KeyScaler has been selected to differentiate and elevate 3D Systems' service offering and to ensure that its customers, which cover a range of industries including healthcare, dental, automotive and aerospace, are not exposed to vulnerabilities which could cause downtime and IP/ data theft. Whilst the fees payable under the contract are not material to Tern, this contract win demonstrates additional traction by DA's sales force and sees Tern's portfolio company enter an exciting and growing segment of the IoT market. Al Sisto, CEO of Tern, said, "This is a strategically strong move for DA which sees them enter a key IoT market. 3D printing is a highly exciting, growing industry, although concerns about security are justified. With this in mind, we are delighted to see KeyScaler being implemented by 3D Systems, which has chosen DA's technology with its customers' security firmly in mind." Enquiries
This is an EQS Corporate News announcement. EQS Corporate News is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only/non-regulatory news releases such as marketing messages, corporate and product information into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on EQS Corporate News. Dissemination of a CORPORATE NEWS, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement. |
756627 11-Dec-2018
corporate announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.