11th Jan 2022 14:39
Tern PLC - investor focused on the internet of things - Investee Wyld Networks AB partners with Eutelsat Communications, Senet Inc and TrakAssure to form the Multimodal IoT Infrastructure consortium. The group is aiming to bring terrestrial and satellite internet of things connectivity to customers around the world, Tern says. Tern holds a 59% stake in Wyld Networks, which is quoted on the Nasdaq First North Premier Growth Market in Stockholm. The initial focus for the consortium is on completing all technical tests, pilots, and the commercial delivery of its first-to-market supply chain solutions. The companies are planning a commercial service launch in the second half of 2022, with pilots beginning in February 2022.
Wyld Networks Chief Executive Alastair Williamson comments: "The lack of affordable wireless coverage is holding back the growth of the internet of things. By combining the two advanced frontier technologies of long range wide area networks and low earth orbiting satellites, we can enable 100% global, affordable and low-power connectivity to support IoT deployments in multiple markets and segments."
Current stock price: 12.78 pence
12-month change: up 78%
By Will Paige; [email protected]
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