TIDMTEK
RNS Number : 0215B
Tekcapital plc
05 October 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
5 October 2020
Tekcapital Plc
("Tekcapital", the "Company" or the "Group")
Portfolio Company Update: Guident Ltd ("Guident").
Tekcapital Plc (AIM: TEK), the UK intellectual property
investment group focused on creating marketplace value from
investing in university technology, is pleased to announce that
portfolio company Guident has entered into a Strategic Alliance
with Cirrus Core Networks, Inc ("CCN").
Guident is pleased to announce this alliance with CCN which will
focus on enhance mobile connectivity with cutting-edge mobility
solutions. This alliance includes providing Guident's patented,
advanced teleoperation for autonomous and human-driven vehicles to
enhance customer safety and security in addition to a reliable, low
latency connection to any advanced mobile network. This strategic
alliance is another key milestone for both companies to address a
critical need in the autonomous vehicle (AV) ecosystem for the safe
and successful remote monitoring and control of AV's. The parties
will cover their respective costs for joint work performed under
this alliance.
Initially launched in 2014, CCN introduced a portfolio of
flexibly managed mobile NFV based solutions in a disruptive pay as
you grow model. The company's initial focus was to accelerate LTE
and IMS network deployments. Today CCN offers an end-to-end Network
as a Service (NaaS) that is tailored to the requirements of the
Mobile Network Operator, Service Provider, Enterprise, Utility and
Municipality, with solutions ranging from CCN's global CBO (carrier
breakout optimization) Hub to a CBRS (Citizens Broadband Radio
Service) private network. This is an ideal solution to help Guident
reduce the complexity of launching and operating connected
Autonomous Vehicles ("AV's") through a Remote Monitoring and
Control Center ("RMCC").
" This strategic alliance between Cirrus Core Networks and
Guident will be a significant step towards a low latency and
secured connectivity for any Autonomous Vehicle. We are delighted
to work with Guident in this exciting upcoming market segment ,"
says Adam Crane, Co-founder, CEO of Cirrus Core Networks.
Guident provides patented artificial intelligent solutions for
autonomous vehicles and ground-based delivery drones including
valet systems, concierge services, remote monitoring and control
and connected vehicle data sharing for active safety. Additionally,
Guident's teleoperation system is designed to integrate within
smart cities to improve the safety and performance of
transportation in the smart city environment.
" We are very excited to announce this strategic alliance with
Cirrus Core Networks and we believe that working together will
enable a secured, cost-effective and speedy deployment of Guident's
advanced teleoperation and control system for autonomous vehicles
," says Harald Braun, Chairman & CEO of Guident.
The Market
According to Allied Market Research, (") the autonomous vehicle
market is expected to reach $556 billion by 2026 with a CAGR of
39%.(1) Contactless or "touch-free" delivery is in high demand due
to the COVID 19 pandemic.(2) (, 3) Guident believes this increased
demand will accelerate the roll-out of land-based delivery drones
for food and medicines to improve their availability and reduce the
costs of these deliveries.
About Cirrus Core Networks
CCN was created by a core group of seasoned telecom executives
sharing a common belief that Network Functions Virtualization
heralds a paradigm shift in wireless. The company was launched to
accelerate LTE and IMS network revenue through fast and
cost-effective deployment of cloud based NFV solutions. With its
current offering of IaaS fully managed packet core, IMS, content
delivery and applications, CCN offers MNO's the most comprehensive
and innovative solution. CCN's corporate headquarters, hosting
facility and NOC are in Boca Raton, FL with additional offices and
hosting facilities in London. To learn more please visit www.
cirruscorenetworks.com .
About Guident
Guident commercializes new technology to enhance the safety,
efficiency and utility of autonomous vehicles and ground-based
drones using its proprietary IP & software apps for remote
monitoring and control. To learn more please visit
www.guident.co
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties and provides a range
of IP investment services to make it easy for organisations to
commercialise university-developed technology. Tekcapital is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in Oxford, in the UK. For more information,
please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
Tekcapital owns 100% of the share capital of Guident Ltd.
For further information, please contact:
Tekcapital Plc Via Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated
Adviser and Joint Broker) +44 (0) 20 3470 0470
Richard Morrison/Charlie Bouverat (Corporate
Finance)
Abigail Wayne (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0) 20 7129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving Guident or Tekcapital that may constitute
forward-looking statements. These statements may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Guident' and/or
Tekcapital's management. Please note that these are subject to a
number of risks, uncertainties and factors, including, but not
limited to those described in various disclosures. Should one or
more of these risks or uncertainties materialise, or should
underlying expectations not occur or assumptions prove incorrect,
actual results, performance or achievements of Guident or
Tekcapital may vary materially from those described explicitly or
implicitly in the relevant forward-looking statement. Neither
Guident nor Tekcapital intends, nor assumes any obligation, to
update or revise these forward-looking statements in light of
developments which differ from those anticipated.
References
(1) https://www.alliedmarketresearch.com/autonomous-vehicle-market
(2)
https://www.cnet.com/how-to/how-to-safely-order-food-delivery-takeout-and-groceries-during-coronavirus-quarantines/
(3)
https://techcrunch.com/2020/04/01/uber-eats-beefs-up-its-grocery-delivery-offer-as-covid-19-lockdowns-continue/
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END
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