Tern Plc : Re Contract

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

Cryptosoft announces a pilot of a new data security service, for M2M applications

Highlights

• Cryptosoft 95% owned by Tern
• Agreement with leading M2M provider to distribute Cryptosoft security product to target cloud, mobile, machine 2 machine (M2M) and internet of things (IoT) market sectors
• Rewards by way of revenue split

Tern Plc, the AIM quoted technology investor specialising in the cloud and mobile sectors, is pleased to provide an update on its 95% owned investee company Cryptosoft Ltd ("Cryptosoft"), which specialises in encryption based data security.

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

Cryptosoft delivers the following capabilities:

• End-to-End application level security for data moving from device to device
• Network based security for all traffic within the network infrastructure.
• Secure Authentication of devices within the network.

Al Sisto, Director of Tern and Cryptosoft Investment lead for the Company said:

"Since acquiring 95% of Cryptosoft we have been working with management to rapidly monetise security products into key markets. My experience is that rather than developing proprietary sales forces selling stand alone products, we should first be prioritising building partnerships with those who have established track records providing customers with software products to create a force multiplier. "

Jon Penney, CTO and Founder of Cryptosoft said, "We are committed to ensuring that customers are able to transact securely within an M2M environment."

About Cryptosoft

Cryptosoft provides seamless, simple provisioning of scalable authentication and encryption services to connected machines. It addresses the universal challenge of securing information within an increasingly connected world to ensure integrity, privacy and compliance and adherence to corporate policies. This is achieved without disrupting existing workflows or re-coding applications using a standards based platform that delivers same day value. (www.cryptosoft.com)

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)

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

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Source: Tern Plc via Globenewswire

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