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LONDON (Alliance News) - Software company Cyan Holdings PLC Thursday said it has deployed its smart meter projects in India under a deal signed last year with conglomerate Larsen & Toubro.
Cyan said it has installed its Advanced Metering Infrastructure modules inside L&T's smart meters which have now been deployed by Tata Power, the Indian power company and part of the Tata Group.
Cyan did not provide any financial details on the deal.
"I am pleased to update our customers, partners and shareholders that the first volume rollout of Cyan smart metering technology has been a success," said Cyan Executive Chairman John Cronin.
Shares in Cyan were up 11% to 0.338 pence on Thursday, one of the best performers in the AIM All-Share index.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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