RCS - Tern PLC - Tern Notes Automotive Momentum at Device Authority

TernAnnouncement

05/02/2026 07:02

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RNS Number : 7646R  Tern PLC  05 February 2026

REACH - non-regulatory announcement*

 

5 February 2026

 

Tern Plc

 

("Tern" or the "Company")

 

Tern Notes Automotive Momentum at Device Authority

 

Tern Plc (AIM:TERN), the investment company specialising in supporting high
growth, early-stage, disruptive Internet of Things ("IoT") technology
businesses, is pleased to note that Device Authority Limited ("Device
Authority"), a company in which Tern currently holds 25.3% of the equity, has
today announced further momentum in the automotive sector, securing a new OEM
customer alongside the expansion of an existing Tier 1 automotive deployment.

 

The update from Device Authority confirms the addition of a significant new
automotive OEM customer, together with the expansion of an existing Tier 1
automotive deployment. Device Authority considers that the new and expanded
programmes support a shift by automotive manufacturers towards OEM-owned
cryptographic key management, providing centralised governance of keys,
certificates and signing operations across multiple vehicle platforms and
supplier tiers. Device Authority considers that this approach is intended to
strengthen cybersecurity, simplify compliance with evolving regulatory
frameworks across globally distributed automotive supply chains.

 

Extracts from the Device Authority announcement:

 

Device Authority, a leader in identity and key lifecycle automation for
connected devices, today announced it has secured a significant new automotive
customer as well as expanded an existing automotive deployment, as
manufacturers move to bring cryptographic key management under direct OEM
ownership to strengthen cybersecurity, simplify mandatory compliance, reduce
supply chain risk and comply with new market expansion.

 

As modern vehicles continue to become increasingly software-defined and
connected, making cryptographic trust foundational to safety, secure software
updates, and long-term platform integrity are key. Also, as regulatory
expectations intensify-via frameworks including UN R155/R156, ISO/SAE 21434,
and the EU Cyber Resilience Act, automotive manufacturers are prioritising
centralized, OEM-governed control over cryptographic keys, certificates, and
signing operations across globally distributed supply chains.

 

The latest OEM to select Device Authority did so to support an OEM-owned model
for cryptographic key governance across multiple vehicle platforms and
supplier tiers. The programme is designed to provide centralized lifecycle
control over keys and certificates used for core automotive security
functions, including software/firmware signing, secure communications, and
device identity across vehicle and cloud systems.

 

In parallel, Device Authority has expanded its work with an existing
automotive customer, extending coverage to additional production lines and
supplier integrations. The expansion reflects growing operational demand for
unified cryptographic policy enforcement, accelerated supplier onboarding into
a consistent trust framework, and evidence-ready audit trails that can support
cybersecurity management and software update management workflows, across many
millions of identities and across hundreds of thousands of vehicles.

 

Historically, many OEMs permitted suppliers to generate and manage keys
independently. However, fragmented key ownership can create audit blind spots,
slow incident response, and complicate certificate revocation or algorithm
changes at fleet scale-particularly across the 10-20 year lifecycle of
vehicles. Centralized key management restores OEM authority by enabling
real-time visibility into certificate and key lifecycles, automated rotation
and revocation, and consistent cryptographic standards across suppliers and
components.

 

Darron Antill, Device Authority CEO, said: "Automotive manufacturers are under
increasing pressure to demonstrate control over cryptographic integrity,
software update provenance and vulnerability response, particularly as they
enter and expand into more regulated markets. These customer wins underscore
the industry's shift toward OEM-owned key management as a strategic
requirement and competitive advantage - not just a technical preference. And
the impact of the CRA is coming up more and more, and it is a good thing
companies are responding."

 

About Device Authority

 

Device Authority is a global leader in Identity and Access Management ("IAM")
for the IoT; focused on the automotive, medical device ("IoMT") and industrial
("IIoT") sectors. Device Authority's KeyScaler™ platform provides zero touch
provisioning and complete automated lifecycle management for securing IoT
devices and data at scale, with frictionless deployment across device
provisioning, authentication, credential management, policy based end-to-end
data security/encryption and secure OTA (over the air) and HSM (hardware
security module) updates. For more information, visit:
https://deviceauthority.com (https://deviceauthority.com)

 

Enquiries

 

 Tern Plc                                           via IFC Advisory

 Jane McCracken (Interim Non-Executive Chair)

 Allenby Capital Limited                            Tel: 0203 328 5656

 (Nominated Adviser and Broker)

 Alex Brearley / Ashur Joseph (Corporate Finance)

 Kelly Gardiner (Sales and Corporate Broking)

 IFC Advisory                                       Tel: 0203 934 6632

 (Financial PR and IR)

 Tim Metcalfe

 Graham Herring

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