Tern portfolio company completes Wyld Research acquisition

Josh White Sharecast | 13 Sep, 2017 09:37 | | |

cash money sterling pound



17:18 22/09/17
  • 2,212.99
  • 0.89%19.62
  • Max: 2,215.12
  • Min: 2,191.13
  • Volume: 0
  • MM 200 : n/a
17:30 22/09/17
  • 994.67
  • 0.30%2.94
  • Max: 995.03
  • Min: 989.98
  • Volume: 0
  • MM 200 : n/a
17:25 22/09/17

Internet of things-focussed investment company Tern announced on Wednesday that Wyld Technologies - a wholly owned subsidiary of Tern's portfolio company flexiOps - had completed the acquisition of the assets, including the intellectual property, of Wyld Research for £78k and 10% of Wyld Technologies.

The AIM-traded firm said Gene Myers, the founder and CEO of Wyld, would become chief technical officer of Wyld Technologies.

Wyld Technologies was forecast to achieve revenues of approximately £0.35m in its first year, Tern claimed..

“I am delighted that Wyld has joined the Tern portfolio,” said Tern CEO Al Sisto.

“The Wyld platform is solving a significant challenge for disruption and emergency information; providing a means of communicating when the internet is unavailable, without extensive network infrastructure.

“It is also a valuable way for IoT devices to transmit data.”

Tern said Wyld had developed a “proven” mesh networking software platform.

It explained that mobile mesh networks could be thought of as a collection of nodes, where each node is directly connected to other nearby nodes.

Those nodes, such as mobile phones and devices, not only sent and received data, but also relayed data on behalf of the network, extending the reach of the network beyond the directly connected devices.

A failure of one device would not cause a break in the network or transmission of data, Tern’s statement explained.

Adding additional devices also would not disrupt data transmission between other devices, and it could handle “high amounts” of traffic, because multiple devices could transmit data simultaneously.

Mesh networks also operate in environments where traditional wireless networks are not viable, it added.

More news

24 Sep Sunday share tips: Stobart Group, 1pm

Stobart Group shares were a 'sell' in the Sunday Times' Inside the City column, sparked by a share sale by former boss Andrew Tinkler to cut his stake to 5.3%.

24 Sep Tullow Oil to restart production from TEN following TLOS ruling

Tullow Oil will begin drilling at its TEN fields offshore Ghana following a favourable ruling by the Special Chamber of the International Tribunal of the Law of the Sea at the weekend.

24 Sep US close: Stocks end on mixed note, North Korea threats weigh

Wall Street ended the session on a mixed note, with a threat from North Korea's top diplomatic official weighing on sentiment.

24 Sep Sunday newspaper round-up: UK property, Treasury, Brexit, banks, Ladbrokes

Foreign buyers will face tougher restrictions on purchasing British property under plans being worked up by the Treasury in an attempt to help first time buyers. Policies could be announced within weeks as getting younger Britons on the housing ladder becomes a major part of the Tories autumn political drive. - Sunday Telegraph

22 Sep Europe close: Stocks finish higher on strong PMI readings

Stocks on the Continent finished mostly higher on the back of strong survey readings on the euro area's manufacturing and services sector and ahead of the German general elections at the weekend, although fresh barbs from Pyongyang were a drag on sentiment.

22 Sep Thousands of steel workers protest ThyssenKrupp merger in Germany

Thousands of steel workers gathered in Western Germany on Friday to protest the proposed merger of ThyssenKrupp and Tata Steel's European operations which was expected to result in approximately 4,000 job losses.

22 Sep London Close: FTSE firmer as pound losses ground after May speech

London stocks had reversed earlier losses to trade a little higher by Friday's close, helped along by a weaker pound as investors weighed up a key speech by Prime Minister Theresa May.

22 Sep JP Morgan Chase to establish global headquarters in Warsaw

Polish Deputy Prime Minister Mateusz Morawiecki announced on Friday that US bank JP Morgan Chase had picked Warsaw to play host to its new global operations centre, bringing thousands of jobs to the region from the beginning of 2018.

22 Sep FTSE 250 movers: Pets at Home dashes higher, oilers also lifted

The FTSE 250 index was on the front foot on Friday, led by retailer Pets at Home and a group of oil-related companies.

22 Sep Theresa May calls for post-Brexit transition period, new security treaty

In a speech in Florence on Friday, Prime Minister Theresa May confirmed that she wanted a two-year "implementation period" post-Brexit and a new treaty with the European Union on security and justice.