6th Feb 2017 09:03
LONDON (Alliance News) - CyanConnode Holdings PLC said Monday it has won an order for 100,000 Panmesh software licenses from Swedish firm HM Power Metering AB.
CyanConnode, which specialises in Internet of Things narrowband networks, said the order will be invoiced as the licenses are delivered to HM Power's utility customers in a smart meter replacement roll-out. No financial details of the contract were disclosed.
"This order further demonstrates the suitability of our Panmesh technology to deliver future-proofed customer value," said John Cronin, executive chairman of CyanConnode.
"The sale of Panmesh software licenses include an ongoing recurring revenue stream from annual maintenance charges over a 10-year contract term," added Cronin.
Shares in CyanConnode were up 2.6% at 0.200 pence Monday.
By Adam Clark; [email protected]
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