Device Authority Agreement with Avnet

RNS Number : 4653C

Tern PLC

22 February 2022

 

REACH

22 February 2022

Tern Plc

("Tern" or the "Company")

Device Authority Agreement with Avnet

Tern Plc (AIM:TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, is pleased to note that Device Authority Limited ( " Device Authority") has announced that it has entered into an agreement with Avnet, Inc. ("Avnet") to help customers worldwide manage and protect their connected device infrastructure.

Device Authority's existing relationship with Avnet (Nasdaq: AVT), a global technology distributor and solutions provider, has been deepened by the agreement entered into on 22 February 2022 to help customers worldwide manage and protect their connected device infrastructure through the combination of their technologies.  Under the agreement, Avnet will integrate Device Authority's KeyScaler platform into its cloud-based device management platform, IoTConnect.  This integration will allow device makers to secure and manage the full identity lifecycle of their devices through Avnet's IoTConnect Platform, which is designed to accelerate and scale IoT deployments worldwide.

As part of the agreement, Device Authority has joined Avnet's IoTConnect Partner Program with a shared goal to provide customers with seamless, industry leading IoT system designs on Avnet's IoTConnect Platform.  Avnet's IoTConnect Partner Program is one part of Avnet's IoTConnect Solutions Suite.

Commenting, Lou Lutostanski, Vice President of IoT, Avnet, said: "Many IoT deployments lack built-in security to counter threats, so our industry-first solution securely manages IoT devices throughout the entire value chain, from chip manufacturer through device-makers, and to end customers across multiple sectors.

"By integrating device identity lifecycle management into Avnet's IoTConnect solution, we're enabling users to manage devices built on multiple different technologies and platforms through a single pane of glass. With that visibility and access to key features such as delivering and managing PKI (Public Key Infrastructure) certificates all in one platform, our customers can deploy a sustainable long-term IoT security strategy more confidently."

Commenting, Darron Antill, CEO, Device Authority, said: "The proliferation of IoT devices is growing at an accelerating rate.  Device-based security must start with a strong identity and include recognition of the full lifecycle that those devices will experience from initial registration to end-of-life.  Avnet's global reach, and the device management capabilities of their IoTConnect platform combined with our KeyScaler platform brings a new level of IoT security to our joint customers."

Agreement with BSI

Device Authority's agreement with Avnet follows Device Authority's recently announced partnership with BSI Group ("BSI"), the business improvement and standards company, to protect customers from cyber-attacks by providing trust for IoT devices.  Device Authority's partnership with BSI is designed to extend BSI's cybersecurity capabilities in EMEA and North America to include identity access management for IoT for the first time.

The partnership follows BSI's recent renaming of its Cybersecurity and Information Resilience division (CSIR) to 'BSI Digital trust' to reflect the evolution of the security and resilience landscape.  Device Authority's work with BSI will enable them to ensure that their client's connected devices, applications, and data are protected against potential security threats. The collaboration will provide organisations with best practice security solutions to protect and manage IoT devices throughout their lifetime.

Commenting Al Sisto, CEO of Tern, said :

"I am delighted with the continuing rapid progress that Device Authority is making.  Following the strategic investment from Venafi in December 2021, we are very pleased to see Device Authority enter into further partnerships with some of the world's leading IoT technology companies to help provide significant benefits to their customers from integrating Device Authority's KeyScaler platform.

"These relationships will help Device Authority further grow its monthly recurring revenues through its subscription base and its modularised licence platform, KeyScaler.  Device Authority also continues to gain industry cybersecurity analyst recognition and we were delighted to see that ABI Research* recently reported that they consider Device Authority as the current industry leader in their IoT device identity lifecycle management competitive assessment."

*https://www.abiresearch.com/market-research/product/7779608-iot-device-identity-lifecycle-management/

Enquiries

Tern Plc Al Sisto (CEO) Sarah Payne (CFO)	via IFC Advisory
Allenby Capital Limited (Nominated Adviser and Broker) David Worlidge / Alex Brearley (Corporate Finance) Matt Butlin / Kelly Gardiner (Sales and Corporate Broking)	Tel: [phone]
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Florence Chandler	Tel: [phone] [e-mail]

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