Contract Win

RNS Number : 1562E
Cloudbuy PLC
07 April 2014

cloudBuy plc

("cloudBuy" or the "Company")

Contract Win

cloudBuy (AIM: CBUY), the cloud eCommerce marketplace, announces a significant contract win with a UK major multi-billion dollar private sector care organisation to provide it with integrated ecommerce and eprocurement capabilities.

The contract will allow the organisation to automate its sales to individual consumers of care as well as NHS and Local Government purchasers via the cloudBuy care marketplace, and to simultaneously automate its purchasing from downstream providers and suppliers through the cloudBuy eProcurement platform.

This contract proves the significant supply chain multiplier effect to cloudBuy for every buyside contract win.  The directors of cloudBuy estimate that a significant percentage of the potential overall revenue from the care sector of circa £100 million per annum will come from providing ecommerce sites to care providers.

Ronald Duncan, Chairman of cloudBuy plc, commented: "We  are achieving a 90% success rate in signing up suppliers via our buyers.  This contract win confirms our market leading position in providing ecommerce in the care sector, and joins up the care supply chain so that we can extend down from the councils and NHS to the major providers and onto their subcontractors and supply chain.

"Care is one of the largest and fastest growing service industries in the developed global economy and cloudBuy is establishing a strong and recognisable brand in the UK whilst generating interest globally. Given our success to date and the scale of expenditure in this area we are focused on maximising this opportunity and aligning it with our new transactional model. "

For further information, please contact:

cloudBuy plc
Ronald Duncan, Chairman
Tel: 0118 963 7000

Westhouse Securities Limited
Tom Griffiths/Richard Johnson
Tel: 020 7601 6100

Newgate Threadneedle
Caroline Forde/ Robyn McConnachie/ Alex White
Tel 020 7653 9850

About cloudBuy PLC

cloudBuy, formerly @UK, is the world's leading transactional Cloud Platform.

cloudBuy has used the platform to build the world leading B2B ecommerce and eprocurement applications which address the full range of buying and selling activities, in an easy to use web and mobile experience.  Along with other cloud based applications including Content Management, email and big data analysis.

The applications have already managed over $ 500 billion of spend and are being used by leading organisations around the world to deliver savings and improved services.

The applications are unique in delivering correct pricing in the complex world of B2B whilst being easy enough to use that the people with difficulties can use the system to buy their own social and health care.

For more information, visit www.cloudbuy.com

This information is provided by RNS
The company news service from the London Stock Exchange

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