- Orders in industrial IoT/Qualcomm delays
TerraNet shares have performed strongly since the IPO, supported by a steady stream of new customer announcements and solid progress with our milestone targets. These included completing V2V and IoT software development kits as well as winning a pilot of its GriDD mobile data sharing app with Orange. TerraNet is also meeting leading Chinese mobile point of sale (mPoS) firms to promote a prospective new line in offline mPoS in the Chinese market. It is worth nothing, however, that delays in software releases by third parties have held up the roll-out of proximal connectivity services in China, putting back take-up of TerraNet’s software. This together with a slower than expected ramp up in revenues in H117 has led us to reduce our base case valuation range to SEK12.6-14.4/share.TerraNet Holding AB is a Sweden-based provider of software technology that enables intelligent machine-to-machine communication and streaming of data, including bandwidth-demanding high definition media, regardless of mobile networks or other hotspot-dependent networks. The Company's software can work with such technologies as Wi-Fi Aware Discovery and Data Link, Wi-Fi Direct and IBSS, Bluetooth Smart, IEEE 802.11s Mesh and LTE Direct. The Company aims to work within strategic partnerships in order to deliver commercial customer projects in such areas as industrial Internet of things, chip integration and multimedia services. The key customers comprise Autoliv, 3M och Qualcomm, with whom the Company holds license agreements.
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