Tern Plc Acquisition of Flexiant Limited

Posted: 26th May 2016 08:09

Tern Plc, the investment company specialising in the cloud and mobile sectors, announces that it has agreed, subject to contract and completion of satisfactory due diligence, to acquire Flexiant Limited from Flexiant Corporation Limited on the following terms:

Flexiant is a leading European provider of cloud management software for cloud orchestration for on-demand, fully automated provisioning of cloud services. Tern has owned an investment of one per cent of Flexiant's issued shares since November 2013.

For the year ended 31 December 2014, the latest year for which audited accounts are available, Flexiant made an operating loss of £3.9m on turnover of £750,000.

About Tern:

Tern Plc acquires and invests in privately owned companies with self-owned IP, established products and customer bases. Its investment strategy is focused on taking an active role in its investee companies in order to improve the business model, accelerate growth, expand the business globally, and identify exit opportunities

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