There has actually been a CyanogenMod build available for Android One for some time now, but it was unofficial and lacked both dual SIM and cellular support, so it wasn’t exactly something you were going to put on your daily driver. This first official build is CM 11, which is KitKat-based, but an update to the Lollipop based CM 12 is in the works already.
All three of the current Android One devices are supported by the same build thanks to their nearly-identical hardware. And speaking of the hardware, the CM team pointed out that this is the first time they have officially supported a device using a Mediatek chipset.
While most of us are forever trying to get the most advanced hardware out there, it is nice to see Cyanogen offering support for some of the lowest-end Android hardware on the market.