LONDON (ShareCast) - (Sharecast News) - CyanConnode on Monday signed a memorandum of understanding with Hexing Electrical, with the two companies set to collaborate and deliver smart metering solutions in certain unspecified territories.
As part of the collaboration, Hexing will integrate CyanConnode's RF Modules with its meters and CyanConnode's Omnimesh advanced metering infrastructure platform with Hexing's meter data management system, with the aim of creating a cost-effective turnkey solution.

Hexing was established in 1992 and is a multi-national manufacturing company that supplies utilities in more than 80 countries across the world, with headquarters in Hangzhou, China.

Bjorn Lindblom, chief commercial officer at CyanConnode, said: "I am very pleased to announce that CyanConnode will be working with Hexing, who have a wealth of experience in delivering solutions to Utilities in more than 80 countries around the world. The memorandum of understanding will expand CyanConnode's geographical reach and introduce its products and services to new customers."

CyanConnode's shares were up 3.03% at 5.10p at 1119 BST.

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