CyanConnode Holdings PLC Contract Win (2518C)
April 12 2017 - 2:00AM
UK Regulatory
TIDMCYAN
RNS Number : 2518C
CyanConnode Holdings PLC
12 April 2017
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Contract Win
Purchase order for Software Licences from Innologix India
CyanConnode, the world leader in narrowband radio mesh networks,
announces it has received a purchase order for approximately
$150,000 from Innologix Consulting Pvt Ltd ("Innologix") in India
for its smart metering software solution.
Innologix is a systems integrator focused on smart metering
within India. They will integrate CyanConnode's software into its
own cloud-based innovative energy management solutions to create a
platform to capture and store meter data to assure utilities they
are charging correctly. The smart meters for the Innologix solution
will use CyanConnode's communications module and data concentrator
units, which will be sourced from one of the Company's existing
local partners.
The purchase order is for CyanConnode Head End Server software
licenses, and includes an annual maintenance contract, which will
both provide a recurring revenue stream following successful
installation of the software on the Innologix cloud-based
platform.
John Cronin, CyanConnode Executive Chairman, commented: "This
contract win with Innologix further demonstrates the success of the
Company's scalable business model as well as the strength of its
smart metering eco-system in India. Through our collaborative
approach, and commitment to transferring skills and experience to
our partners in-country, CyanConnode's communication platform is an
enabling technology that delivers cost-effective solutions designed
for the utility sector in India."
Atul Agrawal, CEO & Founder at Innologix Consulting,
commented: "When we established Innologix, we were clear that we
would focus on providing a cloud computing service, delivering the
latest energy management technology without the investment in
infrastructure or the running costs required to host and manage a
system in-house. Working with CyanConnode's partner eco-system, we
are delighted to have secured our first major customer order for
smart metering as a managed service. The contract for software
licenses together with smart grid hardware will provide our
customers with a cost-effective, end-to-end solution."
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"). This inside
information is now considered to be in the public domain.
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223
225 060
John Cronin, Executive Chairman www.cyanconnode.com
Cantor Fitzgerald Europe - Tel: +44 20 7894
Nomad and Broker 7000
Andrew Craig / Richard Salmond
Beaufort Securities Limited Tel: +44 (0) 20
- Joint Broker 7382 8300
Jon Belliss
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 RF mesh networks
that enable Omni Internet of Things (IoT) communications. Its
innovative solutions use sub GHz frequencies and are optimised for
exceptional performance. Ultimesh solutions provide end-to-end
quality of service and total cost of ownership and Panmesh delivers
standards-based IPv6 solutions, enabling rapid innovation for the
implementation of 3(rd) party applications. Through its global
partner eco-system, CyanConnode provides customers with the
flexibility and choice required to converge networks for
applications in smart cities and IoT, delivering increased customer
value.
For more information, please visit www.cyanconnode.com.
About Innologix
Innologix Consulting is founded by Atul Agrawal who has more
than 20 years of experience in the energy and utility industry. He
has rich operations, consulting and information technology
experiences. He has worked for Ferranti Computer Systems, IBM,
Infosys Ltd., Siemens Ltd. and Reliance Industries before he
founded Innologix Consulting.
Innologix Consulting provides energy management and facility
management solutions for its various client segments such as
individual home, residential facilities, commercial facilities,
Industry and Utilities. It provides cloud based business solution
platform for smart grid, smart micro grid, metering, billing and
payment processes, power portfolio management etc.
For more information, please visit
www.innologixconsulting.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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