Tern shares spike up as holding company extends security capability for Microsoft’s internet of things platform
Tern PLC (LON:TERN) saw its shares climb 33% to 17.1p in late-afternoon trading after Device Authority, a company in which it holds a 56.8% stake, announced its support for Microsoft Azure Internet of Things (IoT) Hub.
The announcement followed the release of KeyScaler 5.8, a global leader in Identity and Access Management for IoT. The group said combining these two technologies will allow customers to take advantage of automated enterprise IoT security lifecycle management, as well as KeyScaler's Delegated Security Management model, which provides device provisioning with continued device lifecycle credential management.
Tern added that the support of DA's KeyScaler technology adds further value by allowing enterprises to automate security policy enforcement, subsequently eliminating several management issues of using PKI for IoT. The combination of the two technologies also adds the benefits of both functionality and audit, and logging for compliance purposes.
Elsewhere, shares in FTSE 100 aerospace engineer BAE Systems PLC (LON:BA.) rose 1.8% to 616.4p as broker Berenberg upgraded its rating to ‘buy' from ‘hold' and increased its price target to 700p from 605p with the company ‘set to enter a phase of consistent growth.'
In a note to clients, analysts at Berenberg said the blue-chip defence contractor's fundamentals are improving after many years of lacklustre earnings development.
In the fallers, Patagonia Gold plc (LON:PGD) shares dropped 6.4% to 1.4p after the AIM-listed miner said its chief operating officer (COO) had left the company.
Matthew Boyes, who had been with the company since 2010, would remain as a consultant for the next 6 months primarily to assist the company's installation of a new crushing circuit at its Cap Oeste project in Santa Cruz and a transition to a new COO.
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