Cyanconnode Regulatory News (CYAN)

CyanConnode Holdings plc("CyanConnode" or the "Company")

CyanConnode signs MoU with Tech Mahindra

Companies to collaborate to deliver narrowband mesh technology in key markets

CyanConnode, the world leader in narrowband radio mesh networks, announces that it has signed a Memorandum of Understanding ("MoU") with Tech Mahindra Limited ("Tech Mahindra"), a specialist in digital transformation, consulting and business engineering.

CyanConnode and Tech Mahindra have agreed to collaborate to market, sell and deliver expertise in narrowband mesh technology for the smart grid, smart city and Internet of Things ("IoT") markets. As part of the collaboration, Tech Mahindra will integrate CyanConnode's enterprise-level Head End Software (HES) with leading Meter Data Management Systems ("MDMS") and Enterprise Business Applications to create an end-to-end utility specific solution.

According to a recent report from Navigant Research, the global revenue for MDMS and analytics is expected to total $10.3 billion from 2015 to 20241.

John Cronin, CyanConnode Executive Chairman, commented: "We are pleased to be working with Tech Mahindra, which will extend our partner eco-system. The integration of our enterprise-level software with Tech Mahindra's Enterprise Applications will broaden our proposition and provide customers with solutions across the leading application platforms. This collaboration is a further step towards a managed services business model, which will deliver a recurring revenue stream from software licenses and support services."

Anil Daulani, Global Utility Head & VP, Tech Mahindra commented: "CyanConnode's narrowband RF mesh communication platform is an enabler for Advanced Metering Infrastructure systems globally, proven by its customer deployments around the world. Its enterprise software provides a transparent and versatile communication interface between meters and ERP systems."

Tech Mahindra is a USD 4.2 billion revenue company, helping over 837 global customers including Fortune 500 companies. It is part of the USD 17.8 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Mahindra Group operates in the key industries that drive economic growth, enjoying a leadership position in diverse markets including information technology.

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1https://www.navigantresearch.com/newsroom/revenue-for-meter-data-management-systems-and-analytics-is-expected-to-total-10-3-billion-from-2015-to-2024

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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 3rd 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 Tech Mahindra

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.2 billion company with 117,000+ professionals across 90 countries, helping over 837 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is amongst the Fab 50 companies in Asia (Forbes 2016 list).

We are part of the USD 17.8 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.

For more information, please visit www.techmahindra.com

For Further Queries:

Shalini Singh

Global Media Relations & PR

Email: Shalini.singh7@techmahindra.com

media.relations@techmahindra.com