Tern Plc (AIM:TERN), the investment company specialising in the Internet of Things (“IoT”), is pleased to note that its portfolio company Wyld Networks AB (“Wyld Networks” or “Wyld”) has announced that it has signed a contract with Bayer Crop Science, a world leader in agriculture and part of the multinational Bayer Corporation. Bayer has placed an initial purchase order worth SEK 320,000 (approximately £27,000) with Wyld Networks to develop a satellite IoT terminal and sensor to collect data from beehives.
Commenting Al Sisto, CEO of Tern, said:
“This is an important engagement for Wyld and we are very pleased that they are now working to develop a satellite IoT platform with Bayer. As Wyld’s CEO Alastair Williamson has pointed out, there is a substantial and growing market for affordable satellite IoT connectivity in multiple markets from agriculture, utilities, maritime and the environment and we look forward to Wyld’s continued progress”.