Cyanconnode (CYAN) - New contract, fundraising and Indian developments
CyanConnode is awaiting news with respect to the first large tranche of smart meter contracts in India, for which it is an established supplier of intelligent communications modules. In the meantime, contract wins in other markets continue; for example, this week’s announcement of a win in the Middle East and North Africa (MENA) region, which we expect has a multi-million pound value. The recent fundraising of £2.0m gross saw strong investor support ‒ this was a growth-centric initiative as the new funds will be primarily used to fund inventory of components in short supply and/or have longer lead times. Our DCF-implied fair equity value is £91.4m compared with the current market capitalisation of £40.5m.CyanConnode Holdings is a holding company. Co. designs and develops narrowband Radio Frequency (RF) mesh networks that enable Internet of Things communications. Co. provides customers with networking solutions and applications that help them in service delivery, business and energy. Co.'s optimized solutions provide narrowband RF network technology, delivering exceptional performance and total cost of ownership. These solutions include hardware, software and network management. Co.'s IPv6 solution is a wireless Neighborhood Area Network, an IP-based machine-to-machine platform that uses narrowband radio mesh networks to create deployments for the implementation of third party applications.
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