Wyld Networks Purchase Order
Updated : 07:15
REACH
23 March 2022
Tern Plc
("Tern" or the "Company")
Wyld Networks Purchase Order
Tern Plc (AIM:TERN), the company focused on value creation from Internet of Things ("IoT") technology businesses, is pleased to note that Wyld Networks AB ("Wyld Networks" or "Wyld") has announced that it has received a purchase order for its Wyld Connect IoT module from a Brazilian company for deployment in the forestry sector. The purchase order has a total value of SEK 11.3 million (approximately £900,000) over a three-year period, starting in 2022. Tern holds 58.7% of Wyld Networks' issued share capital, which is quoted on the Nasdaq First North Growth Market in Stockholm.
The Wyld Connect solution being supplied will allow Wyld's new customer to deploy IoT sensors in the forestry market to collect data from hard-to-reach areas directly from satellites.
Wyld's sensor-to-satellite module suite with LoRaWAN®* allows IoT sensors to communicate directly from sensor to Low Earth Orbit satellites or in conjunction with terrestrial LoRa networks. Wyld's modems, devices, and embedded technology are designed to enable communication with the cloud, no matter the location, providing global IoT coverage.
Commenting, Alastair Williamson, CEO of Wyld Networks said: "We are pleased to announce the receipt of this purchase order. The order is for the Wyld Connect IoT module and does not yet include the monthly service fee due at the service launch later this year. This order is in addition to the recently secured SEK 17 million orders that we announced on 10 March 2022, providing a total order book value of SEK 28.3 million generated in March this year.
"We continue to pilot the solution and engage with customers to secure orders for the Wyld Connect products ahead of the commercial launch of the full service later this year."
*The LoRaWAN® specification, developed and maintained by the LoRa Alliance®, is a Low Power, Wide Area networking protocol designed to wirelessly connect battery operated 'things' to the internet in regional, national or global networks, and targets key IoT requirements such as bi-directional communication, end-to-end security, mobility and localization services.
Enquiries
Tern Plc Al Sisto (CEO) Sarah Payne (CFO) | via IFC Advisory |
Allenby Capital Limited (Nominated Adviser and Broker) David Worlidge / Alex Brearley (Corporate Finance) Matt Butlin / Kelly Gardiner (Sales and Corporate Broking) |
Tel: 0203 328 5656 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Florence Chandler |
Tel: 0203 934 6630 |
About Reach announcements
This is a Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.