Business
Investment in Weaved, Inc.
Investment in Weaved, Inc..
About this update from Tmt Investments Plc
[{"type":"text","content":"\n \nRNS Number : 6897J TMT Investments PLC 16 June 2014 \n \n\n16 June 2014\n \nTMT INVESTMENTS PLC\n(\"TMT\" or the \"Company\")\n \nInvestment in Weaved, Inc.\n \nTMT 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).\n \nIncorporated 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.\n \nUbiquitous 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.\n \nTMT has acquired ordinary shares representing 2.69% of Weaved's fully diluted equity capital, for an aggregate consideration of US$250,000. \n \nWeaved 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.\n \nDefinitive agreements for the transaction were entered into, and the transaction was completed, on 13 June 2014.\n \n \nFor further information contact:\n \n\n\n\n\nTMT Investments Plc\nMr. Alexander Selegenev\...