Statement re Update on Investments

Tern Plc
("the Company" or "Tern")

Update on investments

Tern Plc, the investment company specialising in the cloud and mobile technology sectors, is pleased to provide the following update on developments of its investments.

These include new:

• Product launches and products being incorporated in global products
• Sales and distribution agreements signed
• Geographical expansion with offices being opened in USA
• Patent awards
• Customer and revenue growth rates 50% pa +

Angus Forrest, Chairman of Tern plc commented,

"We believe that each of the portfolio companies are progressing in line with their expectations and creating significant value for shareholders both in the short term and over the longer term.  Typically the investee companies are growing revenues in excess of 50% pa and customers at a similar rate."

Cryptosoft Limited - 95% owned

Cryptosoft is a specialist data security business.  It has developed innovative authentication and encryption software, which is hardware and software agnostic that secures data in motion and storage.

Cryptosoft signed an agreement for a pilot programme in October to provide a new security service for the SIM based M2M market space. This integrated solution offers the ability to provide data encryption for information flows between all SIM enabled devices on a mobile network.  The agreement provides for revenues to be shared between the network operator and Cryptosoft.

Flexiant Limited <1% owned

Flexiant is an innovative provider of cloud management and orchestration software.  The software is in use in Europe, North and South America, Asia, Australia and Africa.  It provides a complete IaaS software platform that allows telcos, hosters and service providers to build, sell and monetise differentiated cloud services at scale in days.

Since the last update in July 2014 Flexiant has launched two new products:

Flexiant Cloud Orchestrator V4.2 - which is integrated with Parallels, a global leader in hosting and cloud services automation, and extends its networking to the VMWare Inc's platform and adds official support for VMWare vSphere 5.5.

Concerto - announced in October 2014, Flexiant Concerto is a hosted platform that enables application lifecycle management (ALM) for service providers wanting to help developers build next generation applications across multiple clouds.

Flexiant Concerto offers MSPs and telcos the ability to support an application stack across multiple clouds through a single configuration and management interface as well as automation.

It already supportts Amazon Web Services, Cloudstack, Digital Ocean, Google, IBM, Joyent, Microsoft Azure, OpenStack, Rackspace and VMware.

Push Technology Limited < 1%

Push offers real time data distribution.  It is focused on enabling fast, scalable and efficient web and mobile applications on any net connected device. 

Since Tern completed the investment in July 2014, Push has announced corporate developments related to its Diffusion product range.

The Company continues to expand its presence in the US and opened offices in New York and San Jose, California.  The aim is to grow Push Technology's customer base in North America, and promote product integrations with strategic US partners including IBM and Arrow ECS.  

IBM announced that it now includes Diffusion in BlueMix.  This cloud-based platform offers a robust set of IBM, open-source and third-party applications, application programming interfaces (APIs) and services on a pay-as-you-use basis. By eliminating complexity, Bluemix cuts application development and deployment times from months to days and hours.

Diffusion 5.1 is newly available on (Amazon Web Services "AWS") AWS Marketplace as a preconfigured Amazon Machine Image (AMI). This makes Diffusion 5.1 easier to access for Amazon Elastic Compute Cloud (Amazon EC2) and Amazon Elastic Block Store (Amazon EBS) users worldwide.

Seal Software Limited < 1%

Seal Software ("Seal") writes specialist software, which performs complex analysis of contractual data. Seal Software is specifically designed to locate contractual documents and extract and present key contractual information related to language, clauses, clause combinations, and the key contextual metadata held within them.

Seal announced in August that it has received patent approval for its "Non-Standard Clauses Detection" technology from the US Patent and Trademark Office.  This technology plays a key role in helping users identify non-standard contractual terms and is included in Seal's contract analysis platform.

In September Seal Software launched a financial industry version of its existing platform.  The new Seal offering has expanded its Contract Discovery and Analytics software with functionality specifically developed to meet financial service market requirements, including ISDA (International Swaps and Derivatives Association).

Enquiries:

Tern plc	Tel. [phone]
Angus Forrest
WH Ireland NOMAD and Broker	Tel. [phone]
John Wakefield
Peterhouse Corporate Finance (Joint broker)	Tel. [phone]
Lucy Williams
Redleaf Polhill	Tel. [phone]
Charlie Geller

About Tern

Tern, Plc invests in technology companies, works to improve execution and seeks to sell them for a gain. We have a hands-on investment approach where we partner with management teams to provide strategic resources that build and grow great global companies. Value creation is at the core of our existence and our successes generating industry leading returns to help investors achieve their goals. (www.ternplc.com)

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Tern Plc via Globenewswire

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