Statement re Device Authority

31 January 2017

Tern Plc

(AIM: TERN)

Device Authority appoints George Samenuk

Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things , is pleased to provide an update on Device Authority Ltd ("Device Authority"), one of its investee companies.  

George Samenuk, former Chairman and CEO of McAfee (NYSE: MFE), the world's largest dedicated software security business, has joined Device Authority's  board as a Non-Executive Director.

"Device Authority is an exciting company to be a part of, with breakthrough security technology, which is going to continue to attract new partners and customers in 2017. I am looking forward to working with the global team and help them grow and connect with organisations which realise the importance of security within the IoT ecosystem," said George Samenuk.

Mr Samenuk has served on the boards of Symbol Technologies (sold to Motorola for $3.9 billion) and other privately-owned companies. He also spent over twenty years at IBM, holding a variety of executive positions and ended his career there as General Manager of the Americas, responsible for $45 Billion in revenue.

"We are delighted to have George join our board," said Albert Sisto, Executive Chairman of Device Authority. "He has achieved extraordinary success in his career as both an industry executive and as a pioneer in the security industry. George's experience of building global businesses across both developed and emerging markets will be a tremendous asset as we build and expand our business."

Darron Antill, CEO of Device Authority, commented: "We welcome George's knowledge of the technology software industry, particularly the security market and his remarkable track record. We are well positioned to enable IoT security for the evolving Enterprise and IoT partner ecosystem."

Enquiries:

Tern plc  Angus Forrest / Al Sisto	Tel: [phone]
WH Ireland   (NOMAD and broker)	Tel: [phone]
Mike Coe / Ed Allsopp
Whitman Howard  (Joint broker)  Nick Lovering / Francis North	Tel: [phone]

  
About Device Authority

 Device Authority provides simple, innovative solutions to address the challenges of securing the Internet of Things (IoT). We help our customers simplify the process of establishing a robust, end-to-end security architecture within the IoT and deliver efficiencies at scale through security automation. The KeyScaler(TM) IoT security platform is purpose-built to address these challenges through automated device provisioning, credential management, secure updates and policy-driven data encryption.

It has offices in Fremont, California and Bracknell, UK, Device Authority partners with the leading IoT ecosystem providers, including PTC, DigiCert, Dell, Symantec and Intel.

About Tern:  

Tern Plc acquires and invests in privately owned companies with 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.

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Source: Tern Plc via Globenewswire