Tern Plc (LON:TERN), the investment company specialising in the Internet of Things, has noted that its portfolio company Wyld Networks AB 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”.
