Business
Partnership Agreement with Dinsmore & Associates
Partnership Agreement with Dinsmore & Associates.
About this update from Cyanconnode Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 0750P Cyan Holdings Plc 14 August 2014 \n \n\nCyan Holdings plc(\"Cyan\" or the \"Company\")\n \nCyan signs Partnership Agreement with Dinsmore & Associates\nto pursue opportunities in sub-Saharan Africa\n \nCyan (AIM:CYAN.L), the integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control, announces that it has signed a non-exclusive Partnership Agreement with Dinsmore & Associates (\"D&A\").\n \nD&A will act as a business development partner to identify opportunities for Cyan's smart metering, smart lighting and Machine-2-Machine (\"M2M\") solutions across the sub-Saharan African market. D&A will meet with potential partners and resellers independently to present Cyan's technology as well as assisting in the negotiation of commercial contracts with any opportunities that are taken forward. \n \nSub-Saharan Africa is set for continuous economic growth over the next decade and in order to sustain this growth, Africa requires significant investment in the power sector and rapid expansion of its electrification programs. As a result, the importance for electricity metering will undoubtedly increase as utilities seek to ensure financial sustainability through improved revenue collection. Cyan believes this will create a significant market opportunity for the Company, with spend on grid modernisation in South Africa forecast to reach $11 billion* over the next decade. D&A has already identified several near term partnership opportunities for smart metering and M2M solutions in this emerging target territory.\n \nJohn Cronin, Executive Chairman at Cyan commented: \"Cyan's focus is on emerging markets and we were pleased when D&A approached us to help market Cyan solutions in sub-Saharan Africa. With a number of commercial and pilot projects deployed in India and Brazil, Cyan is looking to transfer its successful business model to other emerging markets that face the same economic and technological challenges.\"\n \nPaul Dinsmore, Director at D&A commented: \"We are pleased to be partnering with Cyan to bring their solutions to the sub-Saharan African market. Cyan's recent customer wins in India with Tata Power and Essel Utilities, as well as the teaming agreement with Voda...