25 April 2018

Tern Plc (AIM: TERN)

Additional Investment in InVMA

Tern Plc (AIM: TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to announce that it has made a further £125,000 investment in InVMA Limited ("InVMA"), one of its existing portfolio companies and a key strategic partner for Device Authority Limited.

Tern's decision to support its existing 50% holding is underpinned by InVMA's previously reported £1 million committed sales orders received in 2017. With this in mind, the Tern Board considers InVMA to be an important investment which has the potential to deliver significant value in the future. 

InVMA builds solutions that link connected devices to their customers' systems to create new revenue streams, enhance customer satisfaction and improve operational efficiency. InVMA enables an IoT that delivers real business value and competitive advantage. Integration of InVMA's AssetMinder with DA's KeyScaler technology was recently completed.

After this investment, Tern will have invested £625,000 in InVMA. As announced on 29 January 2018, if Tern wishes to maintain its 50% stake in InVMA, a further investment of £375,000 will be required before 31 July 2018.  If no further payments are made, then Tern's current holding will decrease to 31.25%.

Bruce Leith, Business Development Director for Tern, said:

"InVMA has substantial potential and the revenues achieved in 2017 support our confidence in its future. We are pleased to maintain our investment in this company, which recently integrated with DA's technology, so that it can progress towards its full potential."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

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