CyanConnode Holdings (CYAN ) has signed a global strategic alliance agreement with SEW, a global energy and water cloud platform provider that serves over 300 utilities worldwide.
US-based SEW delivers and builds digital customer and workforce experiences in the utility industry. Its solutions are integrated with utility enterprise systems to improve customer and operational efficiency using artificial intelligence (AI), cloud and mobile technologies.
The Group, which operates as a leader within the narrowband radio frequency ("RF") mesh network space, explained that under the terms of the agreement, each of CyanConnode and SEW shall promote and be authorised to sell the others products and services as well as refer potential customers to each other, expanding each other’s geographical reaches.
John Cronin, Executive Chairman of CyanConnode, commented on the deal: "I am pleased to announce this Partnership with SEW, which will maximise sales potential in existing as well as new territories while widening the Company's global distribution channels.”
Shares in CyanConnode Holdings have increased by over 10% in value since the beginning of 2021. The stock was trading 14.81% higher this morning at 7.75p following the news.
He said, “CyanConnode offering SEW's products and services will enable customers to make informed decisions for how to conserve energy and water through simple and intuitive ways through digital cloud platforms and deliver unique customer experiences powered by AI/ML."
Commenting on this morning’s news, Deepak Garg, Founder and Chief Executive Officer of SEW (Smart Energy Water) said: "The Energy & Utilities industry worldwide is going through a major transformation in customer experience and mobile workforce operations.”
He added, “SEW is delighted to partner with CyanConnode and offer its customers CyanConnode's intelligent communication solutions, in the knowledge that this technology has been proven by worldwide commercial scale deployments. At the same time this collaboration will allow our platform to be deployed globally as utilities continue their digital transformation journey."
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