CyanConnode Holdings PLC $2.9m Order for Support Contract (6304B)
24 September 2018 - 4:01PM
UK Regulatory
TIDMCYAN
RNS Number : 6304B
CyanConnode Holdings PLC
24 September 2018
CyanConnode Holdings plc
("CyanConnode" or the "Company")
$2.9 million order for support contract for Indian smart
metering deployment
CyanConnode (AIM: CYAN), a world leader in narrowband radio
frequency (RF) mesh networks, is pleased to announce the receipt of
a $2.9 million purchase order for a five-year support and
maintenance contract for an Omnimesh smart metering deployment by a
State-Owned Utility in India.
This contract relates to the $11.6 million purchase order
announced last week, for Omnimesh IPv6-based hardware, perpetual
software licenses and services, received from a Tier One Metering
Partner. It includes support and maintenance of the RF Canopy,
firmware and software support and training. The contract will start
within six months from the commencement of meter installations and
is for an initial period of five years.
Anil Daulani, Managing Director of CyanConnode Pvt Limited,
commented: "We are very pleased to announce this significant,
follow-on order for support and maintenance for the Omnimesh smart
metering solution being provided to the State-Owned Utility. As an
integrated network services company, we have the technology,
partners and expertise to provide end-to-end smart metering RF
communications solutions that enable utilities to reduce their cost
to serve and improve customer experience.
"This contract demonstrates our commitment and ability to
provide both world class technology and expert support to
customers, from integration to ongoing maintenance. CyanConnode
designs, delivers and supports solutions and services which enable
organisations to create, improve and operate the smart networks
that their businesses depend on. Our comprehensive approach builds
customer confidence and loyalty, providing scope for follow-on
orders as well as further revenue streams."
The Omnimesh product was officially launched on 27 June 2018 and
the total value of orders received for this new product is now more
than $18.9 million, which demonstrates its suitability for the
Indian smart metering market.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225
060
John Cronin, Executive Chairman www.cyanconnode.com
finnCap Ltd (Nomad and Broker) Tel: +44 (0) 20 7220
0500
Ed Frisby/ Giles Rolls (Corporate Finance)
Alice Lane (ECM)
Walbrook PR (Financial PR) Tel: +44(0) 20 7933 8780
Paul Cornelius / Nick Rome cyanconnode@walbrookpr.com
About CyanConnode
CyanConnode is a world leader in narrowband radio frequency (RF)
mesh networks that facilitate machine to machine (M2M)
communication. CyanConnode's innovative technology uses the
industrial, scientific, and medical radio band, (ISM), which is
optimised to give exceptional performance and competitive total
cost of ownership. Through global partnerships, CyanConnode
provides customers with a solution for the rapid deployment of
local or countrywide ISM RF mesh networks that provide reliable and
secure M2M communication.
For more information, please visit www.cyanconnode.com
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END
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