StockMarketWire.com - Radio Frequency network company CyanConnode said it had won a contract from Schneider Electric for a smart metering deployment in Northern India.

Under the terms of the agreement, CyanConnode will supply 152,000 omnimesh modules with advanced metering infrastructure standards-based hardware, services, omnimesh head-end software, perpetual license and an annual maintenance contract.

CyanConnode will also supply its new omnimesh cellular modules as well as omnimesh RF modules within the third quarter of 2021.

'Approximately 80% of revenue will be recognised during the first two years of the contract with the balance of approximately 20% being received during a further seven-year support and maintenance contract, which commences following the 'Go Live' phase,' the company said.


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