3rd Mar 2015 09:32
LONDON (Alliance News) - Tern PLC said Tuesday its investee company Cryptosoft Ltd has signed a partnership deal with New York-based data service exchange for connected device platforms wot.io Inc.
Cryptosoft will provide data security technology for a new data encryption service for wot.io customer data on wot.io's network. Under the agreement revenue generated by the new service will be shared between the two companies.
"This partnership with wot.io, which will be announced at Mobile World Congress, marks a major advance in Cryptosoft's go to market strategy to offer its security platform through strategic alliances with Independent Software Vendors, Mobile Virtual Network Operators and global Systems Integrators. It also spearheads Cryptosoft's penetration of the important North American market," said Chairman of Cryptosoft Al Sisto in a statement.
Shares in Tern are trading up 1.5% at 6.85 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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