Tern portfolio company secures £712,900 purchase order

13th Mar 2023 07:28

(Sharecast News) - Capital markets company Tern revealed on Monday that portfolio company Wyld Networks has received an approximately SEK 9.2m (£712,900) purchase order for its Wyld Data service.

Tern, which currently holds 40.2% of Wyld's equity, said the additional order came from an unnamed South African company deploying soil moisture sensors.

"Providing soil and irrigation data is key to meeting agricultural sustainability goals and yield targets," said chief executive Alastair Williamson.

"We are delighted to be helping our partner to deliver data anywhere in the world via low earth orbiting satellites to meet this challenge. We have to date secured an order intake of approximately SEK 76.0m (£5.89m). These orders are predominantly comprised of 223,000 Wyld Connect modules. Wyld are now pleased to see the start of order intakes for the Wyld Data service."

As of 0915 GMT, Tern shares were down 1.36% at 6.16p.

Reporting by Iain Gilbert at Sharecast.com