LONDON (Alliance News) – Tern PLC on Friday said it has signed a term sheet to invest in Chesterfield based internet-of-things firm InVMA Ltd.
InVMA designs, makes and supports products for internet-of-things enabling. Tern noted that the company is a “key strategic partner” for Device Authority Ltd, and it expects bringing InVMA into its portfolio will be beneficial to its relationship with Device Authority.
Tern expects to complete this investment in August, and said negotiations are at an “advanced stage”. However, it cautioned there can be no certainty the investment will complete, nor its final terms.
Shares in Tern closed down 5.9% at 8 pence Friday.
By Hana Stewart-Smith; email@example.com; @HanaSSAllNews
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