Statement re Device Authority

27 June 2016

TERN PLC

Market Update

The directors of Tern Plc (AIM:TERN), the investment company specialising in the cloud and mobile sectors are pleased to provide an update on developments at Device Authority Ltd. ("Device Authority") a global leader in policy and device-driven security for the Internet of Things (IoT).

Device Authority continues to significantly expand its relevance in the IoT and Machine-to-Machine (M2M) marketplace. In particular, Device Authority has recently achieved important international industry recognition. Gartner has named the company a 2016 "Cool Vendor" and at InfoSecurity Europe 2016 Device Authority was named the UK's Most Innovative Small Cyber Security Company by a panel that included judges from Cisco, IBM and Microsoft.

In addition to these important endorsements Device Authority continues to make good progress:

1.  Business Development- the pace at which Device Authority continues to secure new contracts is increasing. Contracts are generally sold on a subscription model, so for every new client customer there is a payment per device or instance of deployment and as more devices are added revenues increase.  The directors estimate that the potential for these contracts today is for over 70,000 devices. The customers are in different industries providing a base of case studies for new opportunities. One such example is an industrial company which uses the Device Authority platform integrated into Device Authority partner, inVMA Ltd's, managed service to monitor and manage remote plant and equipment.

2.  Strategic Partnerships - Device Authority has been selected to be part of Dell's IoT Solution Partner Program.  The Dell IoT Solutions Partner Program is a multi-tiered ecosystem of domain experts to enable distributed IoT solutions for Commercial and Industrial use cases.  The program enables Independent Software Vendors (ISVs), service providers, OEMs and end customers to select the right partners to deploy stable, differentiated solutions on top of Dell's broad portfolio of IoT-enabling technologies. Device Authority will be an Associate Partner and currently is the only pure play security platform in their program.
 

Device Authority is also to become a member of the Intel Strategic Alliance program. Close collaboration with Intel enables the company and other ISA members, such as Dell, to innovate with the latest IoT technologies, helping developers deliver first-in-market solutions. From modular components to market-ready systems, Intel and the 400+ global member companies of the Intel® Internet of Things Solutions Alliance provide scalable, interoperable solutions that accelerate deployment of intelligent devices and end-to-end analytics and Device Authority's platform adds a highly scalable security solution to the program.  The partnerships are important to the Device Authority Strategy and since the start of 2016 five have been added.
 

3.  Appointment of George Apostol, as Board Advisor, George is Vice President, Data Center Initiative, in the Samsung Strategy and Innovation Center, a division of Samsung Electronics. Since May 2013, his objective has been to innovate new architectures and apply Samsung's world-class, market-leading, component technology to the development and implementation of revolutionary next-generation data centers.

George has nearly 30 years of experience in the design and management of a variety of complex electronic system products. Prior to Samsung, he was Executive Vice President, Engineering and Operations and Chief Technology Officer for Exar Corporation; Vice President of Engineering and Chief Technology Officer for PLX Technology Inc; Vice President of Engineering for Audience, Inc; and Vice President of Silicon Engineering for Brecis Communications Corporation.

4.  A new product, Device Authority's Version 4.3 has been launched. This extends Device Authority's policy-based authentication and data protection technology to support the granular encryption of individual data elements within IoT payloads. The new Version provides simple business policies to determine which data elements with multiple destinations needing specific security which can now be implemented by using separate keys allowing for selective decryption of the data by multiple downstream applications or users.

Enquiries:

Tern plc	Tel: [phone]
Angus Forrest
WH Ireland NOMAD and Broker	Tel: [phone]
John Wakefield / Ed Allsopp
Peterhouse Corporate Finance (Joint broker)	Tel: [phone]
Lucy Williams / Duncan Vasey

About Device Authority
Device Authority is simplifying the security challenges that organisations face when protecting access to services and data for the Internet of Things. Device Authority's patented dynamic key generation technology provides a strong, device based trust anchor for automated, scalable IoT identity and secure data delivery.  It solves critical IoT security problems including provisioning and authorisation, device-based access control, software and firmware updates, credential management and data delivery over third party networks and services. (www.deviceauthority.com)

About Tern

Tern Plc acquires and invests in privately owned companies with self-owned IP, established products and customer bases. Its investment strategy is focused on taking an active role in its investee companies in order to improve the business model, accelerate growth, expand the business globally, and identify exit opportunities.  (www.ternplc.com)

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Source: Tern Plc via Globenewswire

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