CYAN Cyanconnode Holdings Plc

BY Rory Gallivan

LONDON--Shares in lighting and metering control software specialist Cyan Holdings PLC (CYAN.LN) jumped Thursday after it announced a follow-on order for another 5,000 smart meters to be used by customers of the electricity provider Tata Power in Mumbai.

The order is from Indian conglomerate Larsen & Toubro Ltd. (500510.BY), which is installing the meters for Tata Power, Cyan said. It comes after L&T made an order for the same number of meters last year, Cyan said.

Financial details of the deal were not disclosed.

"Tata Power is pioneering initiatives in the generation and transmission of electricity and the success of this project has provided Cyan with a strong customer reference for opportunities in India," Cyan's Executive Chairman John Cronin said.

Shares at 0901 GMT, up 14.6%, valuing the company at GBP10.7 million ($15.5 million).

Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

(END) Dow Jones Newswires

January 21, 2016 04:30 ET (09:30 GMT)

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