19 December 2017
Tern Plc (TERN.L)
Additional Investment in InVMA
Tern Plc (TERN.L), the investment company specialising in the Internet of Things ("IoT"), is pleased to confirm that following the announcement of 25 September 2017, it has made a further £125,000 investment in InVMA Limited ("InVMA"), an established and growing player in the market for IoT enablement.
This investment qualifies Tern to maintain its 50% stake in InVMA, a key strategic partner for Device Authority Limited. After this investment, Tern will have invested £375,000 in InVMA. If InVMA makes certain sales milestones and no further payments are made, then Tern`s current holding will decrease to 18.75%.
InVMA designs, builds and supports secure innovative solutions that link connected devices to customers` systems, creating new revenue streams, enhancing customer satisfaction and improving operational efficiency. InVMA enables an IoT that delivers real business value and competitive advantage.
Since Tern`s initial investment, InVMA has secured new customers in OEM, Oil and Gas, Asset Rental and Software markets, which has contributed to a significant expansion of its delivery capability in the UK.
Pat Nash, Managing Director of InVMA, said:
"We are delighted to receive continued investment and support from Tern. This partnership has already enabled us to significantly improve growth rates and stay ahead of other companies specialising in IoT in an increasingly competitive market."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
Enquiries
| Tern Plc | via Redleaf Communications |
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Source: Tern Plc via GlobeNewswire
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