LONDON (ShareCast) - (WebFG News) - Investor Tern has made an additional £125,000 investment in InVMA, one of its existing portfolio companies and a key strategic partner for Device Authority Limited.
Tern's decision to support its existing 50% holding in InVMA came shortly after the group reported £1m of committed sales orders throughout its last trading year, leading Tern's board to consider InVMA as an "important investment" which has the potential to deliver significant value in the future.

As a result of its new investment, Tern will have invested a total of £625,000 in InVMA, which builds solutions that link connected devices to their customers' systems to create new revenue streams, enhance customer satisfaction and improve operational efficiency.

Tern noted that if the firm wished to retain its 50% stake in InVMA, a further investment of £375,000 was required before 31 July and if no further payments were to be made, then its current holding would then decrease to 31.25%.

Bruce Leith, business development director for Tern, said, "InVMA has substantial potential and the revenues achieved in 2017 support our confidence in its future. We are pleased to maintain our investment in this company, which recently integrated with DA's technology so that it can progress towards its full potential."

As of 0850 BST, shares had picked up 1.28% to 18.48p.

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