25 July 2018
Tern Plc (the "Company", or the "Group")
InVMA Acquires Assets from AMIHO Technology
Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things ("IoT"), is pleased to note today's announcement from InVMA, the leading PTC IoT partner and ThingWorx System Integrator in which Tern has a 50% holding.
InVMA has acquired the Intellectual Property and other assets of Cambridge-based AMIHO Technology. AMIHO's key personnel will be joining a new product division of InVMA.
AMIHO Technology was founded in 2009 to solve the problem of connectivity for the smart energy industry. Its intellectual property is a series of wireless RF modules, protocol stacks and evaluation kits. The new division will offer professional design services to help customers robustly connect on the LoRA (a patented digital wireless data communication IoT technology) and M-Bus (a European standard for the remote reading of gas or electricity meters) protocols.
The acquisition will have no immediate impact on the carrying value of Tern's investment in InVMA however provides an interesting opportunity for InVMA.
InVMA Managing Director Patrick Nash said:
"The addition of the team will empower InVMA to offer embedded software products and design services to customers, our partners, system integrators and other PTC partners to enable communication with their products and operations and to extend the capability of AssetMinderTM "
Al Sisto/Sarah Payne
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Elisabeth Cowell/Fiona Norman
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