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TERN PLC Tern PLC: Wyld Networks awarded initial purchase order for satellite IoT deployment

Transparency directive : regulatory news

09/09/2020 08:00

Tern PLC
Tern PLC: Wyld Networks awarded initial purchase order for satellite IoT deployment

09-Sep-2020 / 07:00 GMT/BST


Non-regulatory announcement

9 September 2020

 

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

Wyld Networks awarded initial purchase order for satellite IoT deployment

 

Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to provide an update in relation to its wholly-owned portfolio company, Wyld Networks Limited ("Wyld"), and its existing cooperation agreement with one of the largest global satellite operators.

 

Wyld has received an initial purchase order for £112,600 to develop and deliver a small number of proprietary-designed Low Power Wide Area Network ("LPWAN") IoT modems to be functionally tested with a pre-commercial low earth orbiting ("LEO") satellite.  The Board of Tern (the "Board") believes that, following successful testing, a full deployment of this technology with a LEO satellite constellation could follow.

 

The Board believes that this is a significant strategic milestone for Wyld.  It underpins Wyld's growing reputation as a technical leader in LPWAN connectivity solutions for the IoT within this rapidly growing market where satellite IoT as a service is anticipated to provide connectivity to underserved areas in agriculture, transportation and industrial verticals. According to ABI Research, new satellite networks will enable 24 Million IoT connections and provide seamless global connectivity by 2024.

 

Al Sisto, Tern CEO, said: "Wyld's existing partnership with one of the world's largest global satellite businesses and this subsequent initial purchase order provide strong validation of Wyld's technical expertise just 18 months since its business was refocused.  The work to be accomplished under the purchase order is to ensure the functionality of the direct sensor to satellite communications capabilities using Wyld's LPWAN software stack and modem module, which is designed to enable global satellite and IoT device communications. This initial purchase order has the potential to open up a significant and rapidly growing market to Wyld."

 

About EQS Corporate News announcements

This is an EQS Corporate News announcement. EQS Corporate News is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only/non-regulatory news releases such as marketing messages, corporate and product information into the public domain.  Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on EQS Corporate News.

 

**ENDS**

 

 

Enquiries

 

Tern Plc

Al Sisto/Sarah Payne

via Newgate Communications

 

Newgate Communications

Elisabeth Cowell/Megan Kovach

 

Tel: 020 3757 6880

 

 



Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


End of Announcement - EQS News Service

1129015  09-Sep-2020 

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