25 June 2018
Tern Plc (the "Company", or the "Group")
InVMA Announces Contract with ESAB
Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to note today's announcement from InVMA, a leading IoT partner to PTC and a ThingWorx System Integrator in which Tern has a 50% holding.
InVMA has announced a new contract with ESAB Limited ("ESAB"), a recognised leader in the production of welding and cutting equipment and consumables, which will see InVMA advise on the system architecture of ESAB's WeldCloud platform, powered by Microsoft Azure IoT and using PTC's ThingWorx Industrial Innovation Platform. InVMA will also deliver the user interface and key elements of the platform to help deliver actionable data to resolve performance and availability issues.
WeldCloud will provide several digital methods of documentation, better views into productivity and a much richer ability to manage their physical assets, meaning customers can subscribe to diagnostic analytic messages about the health of their welding power source.
Tern Business Development Director Bruce Leith said:
"We are pleased that InVMA is partnering with a company which is a leader in its field. ESAB highlighted that it selected InVMA because it has consistently demonstrated its strategic and practical capabilities. This demonstrates our portfolio company's strong reputation and ability to bridge the gap between devices and business process to gain the insights needed to resolve critical issues and maximize performance at IoT scale.
This is a non-regulatory announcement which is not considered to be price sensitive to Tern.
Al Sisto/Sarah Payne
|via Redleaf Communications
Elisabeth Cowell/Fiona Norman
|Tel: 020 3757 6880
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