The order, for legacy CyanConnode hardware and software, is from an existing Partner and the end customer is a Nordic Utility, who is expanding an existing smart metering deployment. The Company expects to recognise 50% of the revenues for this follow-on order in 2019 and 50% in 2020.
The existing smart metering deployment has been delivering reliable communications between consumers and the utility’s data collection centre for over eight years, thereby providing significant benefits, including improved information on energy consumption, simplified billing and enhanced customer service.
Björn Lindblom, CyanConnode Chief Commercial Officer, commented: “I am pleased to announce this follow-on order for the expansion of an existing smart metering deployment in the Nordics. The order demonstrates our customer’s confidence in CyanConnode’s technology.”