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(Alliance News) - CyanConnode Holdings PLC on Monday said it has received a contract from France's Schneider Electric SE, for a smart metering deployment in northern India.
Shares in the Cambridge, England-based narrowband radio frequency smart mesh networks firm were up 9.5% to 11.00 pence each in London on Monday morning.
The value of the contract was not disclosed.
CyanConnode will supply 152,000 Omnimesh modules together with Advanced Metering Infrastructure standards-based hardware and services, Omnimesh head-end software, a perpetual license and an annual maintenance contract.
The supply of Omnimesh modules is expected to commence within the third quarter, with all modules being supplied within twelve months.
Omnimesh is based on IPv6 6 radio frequency mesh technology and provides electricity metering capability.
Approximately 80% of revenue will be recognised during the first two years of the contract with the balance of approximately 20% being received during a further seven-year support and maintenance contract.
By Amrit Sahota; newsroom@alliancenews.com
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