KYIV. Sept 21 (Interfax-Ukraine) – Ukrainian meters manufacturer NIK has signed a contract with Britain’s CyanConnode to supply hardware and software for smart metering systems for $29 million, the British company has reported on the website of the London Stock Exchange (LSE).
The company said that the purchase order is for the supply of CyanConnode’s hardware and software advanced metering infrastructure solution for a 1 million unit smart metering deployment to be delivered over the next three years.
CyanConnode will receive $13 million for the provision of hardware with the majority of deliveries expected to be weighted towards years two and three. The Head End Server software payments will be made over the 10-year period post installation and will be worth $16 million, providing the company with a recurring revenue stream.
NIK LLC (Kyiv) is a large manufacturer of metering devices and automated energy metering systems in Eastern Europe.
