LightwaveRF signs Indian distribution contract

(ShareCast News) - LightwaveRF has signed a long-term supply contract with Havells India for distribution on the Indian market.The company will develop a range of lighting, power and cooling control products to go alongside its existing core LightwaveRF range. It expects that in due course the range will be stocked in over 290 Havells' owned showrooms across India.Havells will fund $37,500 of development costs, while all the IP rights concerning technology will remain with LightwaveRF.LightwaveRF chairman and chief executive officer Mike Lord said: "Havells is a major successful Brand in India and across the Globe. We are delighted to be chosen as their Internet of Things smart home technology partner."At 1129 BST, shares were up 1% at 31.30p. Irish Cont.