- Radio technology group CyanConnode said it had signed a licencing agreement with Beijing Jingybeifang Instrument.

The pact provided the Chinese company with the right to use CyanConnode's designs to manufacture advanced metering infrastructure, including radio frequency mesh network technologies.

The pair had also agreed to collaborate on sales opportunities outside of China.

Beijing Instruments would pay a license fee each time a radio frequency module or gateway unit was manufactured, for a total number of modules and gateways over a two year time frame totalling $4m.

'CyanConnode can provide licensing packages that support partners' needs as well as facilitating the localised manufacture of components,' chief executive John Cronin said.

'As there will be little or no associated development or manufacturing costs, the impact on our resources will be minimal.'

At 2:02pm: [LON:CYAN] CyanConnode PLC share price was +2.13p at 11.63p

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