CyanConnode Holdings plc, a global leader in narrowband radio frequency (RF) smart mesh networks, has addressed recent media speculation regarding IntelliSmart Infrastructure Private Limited (IntelliSmart) considering acquiring a significant stake in CyanConnode's Indian operations. The company confirmed that it is actively exploring various funding opportunities to enhance its growth and operational capabilities, including the potential for a strategic investment into its subsidiary, CyanConnode Pvt Ltd. Discussions with various parties, including key partners, are at an early stage, and there is no certainty regarding definitive terms or timing of any potential agreements.
CyanConnode remains committed to pursuing avenues that will strengthen its market position in India and drive long-term value for its stakeholders. The company has indicated that further announcements will be made in due course, as appropriate.
For inquiries, interested parties can contact CyanConnode Holdings plc at +44 (0) 1223 865 750. The company's Nominated and Financial Adviser is Strand Hanson Limited, and its Joint Brokers are Zeus Capital Limited and Panmure Liberum.
CyanConnode, listed on AIM (CYAN.L), is a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, designed for machine to machine (M2M) communication. The company's RF Smart Mesh Networks are self-forming and self-healing, with a focus on rapid deployment, exceptional performance, and competitive total cost of ownership. In June 2018, CyanConnode launched its award-winning Omnimesh Advanced Metering Infrastructure (AMI) platform, which has gained considerable commercial traction, particularly in India, a key market for the company.