Tern plc

Market Cap (£m) 41.9
Listing AIM

Company Description

Tern is an AIM-quoted venture capital investment company that invests in a focused portfolio of unlisted technology companies specialising in the Internet of Things (IoT) - the network of physical devices that connect and exchange data over the internet. As well as funding, Tern provides strategic and operational support to investee companies and can draw upon its extensive network of influential, market-leading contacts. Tern specialises in providing UK IoT businesses with access to networks and potential partners in the USA. Tern's portfolio consists of UK-based companies that have global ambitions and potential for rapid growth. These are predominantly software companies that are developing commercial IoT security, enablement and analytics solutions for the healthcare and industrial sectors, where safety and regulatory compliance are important market requirements.

Investment Summary

Tern offers investors exposure to an increasingly broad range of unlisted Cloud or IoT-related businesses that have been selected for their strong growth potential. Tern management team's very well-connected North American presence acts as a strong incentive for UK businesses to partner with Tern, giving it access to some of the most exciting investment opportunities, and the financial, strategic and operational support provided by Tern should help these businesses to maximise their potential. The growing diversification of Tern's portfolio and the extensive experience of its management team lower the risks associated with investing in early-stage unlisted companies, but portfolio companies are revalued infrequently, meaning Tern's portfolio valuation growth is likely to remain uneven and lag the collective progress of the underlying businesses.

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Company Management Team

  • Albert E Sisto

    Chief Executive Officer

    Al’s an IT industry veteran with more than 25 years senior executive level experience. As Chief Operating Officer at RSA Data Security Inc., the leading security software company, he led its transformation from a passive patent licensing operation to an aggressive, sales oriented software company. At RSA he negotiated partnership agreements with IBM, Intel, Compaq, Cisco and Nortel. Al was Chairman, President and CEO of Phoenix Technologies Ltd, the global BIOS software company. He revitalised Phoenix through the acquisition of Internet appliance business, Ravisent Technologies; investing in semiconductor and microprocessor designer Transmeta and spinning off Silicon Corporation.

  • Sarah Payne

    Chief Financial Officer

    Sarah qualified with Ernst & Young as a Chartered Accountant before joining its corporate finance team. She then spent six years with the BBC, firstly within commercial and investment strategy and then as Head of Financial Planning and Analysis. For the seven years before joining Tern PLC, Sarah was an outsourced Finance Director for SME businesses principally within high tech markets.