TMT Investments PLC Investment in Weaved, Inc. (6897J)
June 16 2014 - 4:44AM
UK Regulatory
TIDMTMT
RNS Number : 6897J
TMT Investments PLC
16 June 2014
16 June 2014
TMT INVESTMENTS PLC
("TMT" or the "Company")
Investment in Weaved, Inc.
TMT Investments PLC, which invests in high-growth,
internet-based companies across a variety of sectors, is pleased to
announce the completion of an investment in Weaved, Inc.
(www.weaved.com).
Incorporated in Delaware and based in Palo Alto, Weaved, Inc.
("Weaved") was founded by a group of serial entrepreneurs, with
deep experience in TCP/IP networking and cloud services. Weaved
provides the software and services necessary to securely connect
devices across the Internet with the mission of becoming the DNS
(domain name system) for "the Internet of Everything". Weaved's
products and services are already used by such big brands as Cisco,
Philips and Astak, with Weaved-enabled devices available in mass
retail.
Ubiquitous mobile Internet connectivity is driving the mass
adoption of the much-anticipated "Internet of Things". Gartner
predicts that this market will add US$1.9 trillion to the global
economy by 2020, to include increased functionality and
interactions across various brands and sectors, such as connected
home, healthcare, education, automotive and enterprise.
TMT has acquired ordinary shares representing 2.69% of Weaved's
fully diluted equity capital, for an aggregate consideration of
US$250,000.
Weaved was co-founded by Ryo Koyama and Mike Johnson. The duo
previously co-founded iReady, which was later sold to NVIDIA.
iReady was the world leader in hardware TCP/IP, and its technology
was used to connect thousands of different products to the
Internet. Ryo holds seven US patents in the areas of multimedia and
networking, and was awarded a Bachelor of Science in Mechanical
Engineering from San Jose State University. Mike is a recognised
leader in communication and protocol processing and has been
awarded multiple patents in this area. Mike has a Bachelor of
Science degree in Computer Science from the California State
University at Chico.
Definitive agreements for the transaction were entered into, and
the transaction was completed, on 13 June 2014.
For further information contact:
TMT Investments Plc +44 1534 281 843
Mr. Alexander Selegenev alexander.selegenev@tmtinvestments.com
www.tmtinvestments.com
ZAI Corporate Finance Ltd.
NOMAD and Broker
Ray Zimmerman/Richard Morrison/Irina
Lomova +44 20 7060 2220
Kinlan Communications Tel. +44 20 7638 3435
David Hothersall davidh@kinlan.net
About TMT Investments
TMT Investments PLC invests in high-growth, internet-based
companies across a variety of sectors and has a significant number
of Silicon Valley investments in its portfolio. Founded in 2010,
TMT has raised USD28m and invested in over 30 companies to date.
The company's objective is to generate an attractive rate of return
for shareholders, predominantly through capital appreciation. The
company is traded on the AIM market of the London Stock Exchange.
www.tmtinvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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