20 September 2016
Update on Device Authority Ltd ("Device Authority")
Contract win and new product
The directors of Tern plc, the company specialising in the cloud and Internet of Things ("IoT") sectors, are delighted to provide an update on its subsidiary, Device Authority, a global leader in policy and device-driven security for IoT and a Gartner Cool Vendor 2016.
Launch customer and order
Device Authority has received an order for its new KeyScaler(TM) IoT security platform to be used in conjunction with remote management of industrial machinery. The three year contract has a minimum value of $300,000 and there is an expectation of increases in uptake over the life of the contract.
New product release
The release of KeyScaler(TM) IoT security platform brings to market a solution that combines Device Authority, Inc.'s device authentication engine with Cryptosoft's policy-driven data security manager and agents to provide a single, comprehensive software security offering for IoT applications. It has important additional features including:
- Registration Controls - Automated device registration and authorisation policies for onboarding of IoT devices at scale and without the need for human intervention. This technology provides revenue protection capability to the customer to stop revenue leakage on any large scale network of devices and enables companies to continuously monitor large-scale networks of devices globally. These unique capabilities, associated with Counting Authenticated Devices were developed for the era of the Internet of Things;
- End-to-End Data Security - Granular, efficient policy-driven crypto that provides secure, end-to-end delivery and storage when using third party networks and cloud services;
- Device Group Management - The ability to assign devices to groups and assign crypto and certificate provisioning policies at a group-level.
- New Technical features - These interface with DigiCert, ThingWorx and ARM products and technologies
The new IoT Security Platform will be demonstrated on Device Authority's stand 10 at Smart Summit taking place at Olympia, London on 21 and 22 September.
Strategic distribution partners
The Company's business model uses partners to sell its patented technology solutions with the partner incorporating Device Authority technology within its own offering. This offers access to much larger groups of customers. Over the past 12 months the number of partners has grown from two to eight and now includes Cumulocity, Dell IoT Solutions, Digicert, Intel, Symantec and ThingWorx. Further, as a company with first mover advantage in a hyper growth market Device Authority has the additional impact of being the only data security offering for several of its IoT platforms.
|Tern plc||Tel: 07973 561 232|
|WH Ireland NOMAD and Broker||Tel: 0117 945 3471|
|John Wakefield / Ed Allsopp|
|Peterhouse Corporate Finance (Joint broker)||Tel: 020 7469 0936|
|Lucy Williams / Duncan Vasey|
About Device Authority
Device Authority provides simple, innovative solutions to address the challenges of securing the Internet of Things (IoT). It helps users simplify the process of establishing a robust, end-to-end security architecture within the IoT and deliver efficiencies at scale through security automation. The Device Authority IoT security platform is purpose-built to address these challenges through automated device provisioning, credential management, secure updates and policy-driven data encryption.
With offices in Fremont, California and Bracknell, UK, Device Authority partners with the leading IoT ecosystem providers, including PTC ThingWorx, Symantec, DigiCert, Dell, Cumulocity and Intel. Keep updated by visiting www.deviceauthority.com and following @DeviceAuthority on Twitter.
Tern Plc acquires and invests in privately owned companies with self-owned IP, established products and customer bases. Its investment strategy is focused on taking an active role in its investee companies in order to improve the business model, accelerate growth, expand the business globally, and identify exit opportunities. (www.ternplc.com)
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