Statement re Cryptosoft Update

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

Cryptosoft update

Tern Plc, the AIM quoted technology investor specialising in the cloud and mobile sectors, is pleased to provide an update on its data security company Cryptosoft Ltd ("Cryptosoft").

The new management team led by Darron Antill has been in place since 1 July 2015.  In the past three months there has been a concentration on marketing, strategic partnerships and selection of sales opportunities.

• A new website has been created and launched
• Technical "White" papers and case studies have been prepared and published
• Al Sisto was a keynote speaker at IoT Security Conference in Boston
• New strategic partnerships have been signed and existing ones developed
• Top sales opportunities have been selected to focus sales activity in the next four months

Strategic Partnerships

There have been requests for an explanation about Cryptosoft's strategic partnerships.  There are three types of strategic partnership.  In each the objective is to use the multiplier effect to advance Cryptosoft.

1. Distribution and Product
2. Distribution

We are working with distribution partners to sell Cryptosoft in other geographical and / or vertical markets.

1. Product

Cryptosoft is embedded in the partners' product that they then offer to their customers.  For the partner it enhances their product, which in turn offers new sales and enhanced revenue opportunities.  For Cryptosoft this offers additional functionality and sales opportunities to its customers.

2. Technical

Cryptosoft is working in collaboration with a number of partners, including IBM, to develop functionality that should lead to commercial projects.

The majority of the strategic partnerships are in the ordinary course of business and have elements that are commercially confidential relating to new product development and  markets as well as financial arrangements.  In these circumstances the information flow has to be restricted on the grounds of commercial sensitivity while the products are in the course of development.

New product

Cryptosoft V3 Data Centric Security Platform has been released.  This version offers a host of new functionality specifically for Internet of Things (IoT) and Machine to Machine (M2M) including improved scalability, increased load management and speed. 

This is a peer reviewed, market proven software security product for IoT and M2M applications that is hardware, software and security system agnostic and which can support legacy and future installations.  Cryptosoft V2 has been in commercial use by major UK and US companies as well as similar organisations for more than three years. 

Updated website
Cryptosoft has recently released a new version of its website which includes insight guides to explain the challenges of encryption as well as a technical white paper which provides the technical detail behind the service.  www.cryptosoft.com

The presentation given by Mr Sisto at the recent Boston IoT Security conference is available (Insight Guides - Making the World Safer) on the website.

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 / Duncan Vasey

About Cryptosoft

Cryptosoft is building trust in the IoT and M2M by simplifying the processes that a user needs for a robust, scalable and easy to use encryption service. The Cryptosoft platform provides users with the capability to secure their most important asset: their data, as it moves from device to device and in storage.

Cryptosoft's distributed agent architecture dramatically simplifies and reduces the costs associated with solving data security challenges.  Cryptosoft directly addresses the challenge of securing information within an increasingly connected world to ensure integrity, privacy and compliance.  This is done without disrupting existing workflows or re-coding existing applications using a standards based platform that delivers immediate value. (www.cryptosoft.com)

About Tern

Tern Plc acquires and invests in privately owned companies with their own IP, established products and customer bases. Its investment strategy is focused on taking an active role in its investee companies in order to create value by improving the business model, accelerating growth, expanding the business globally, and identifying exit opportunities. (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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