Update on the Peak Performance Tour

RNS Number : 8197U
Cloudbuy PLC
21 October 2014
 

cloudBuy plc
("cloudBuy" or the "Company")
Update on the Peak Performance Tour

London, 21 October 2014 - cloudBuy plc the world's leading transactional cloud platform, is pleased to provide an update as a result of the current Peak Performance tour of the Middle East and Asia Pacific Regions.  The events, which were run in conjunction with UKTI positioned cloudBuy as a potential market leader in the following areas: Emirates, India, Singapore, Australia, New Zealand and Hong Kong.

The events built upon the PR gained in the regions from the deals that have already been agreed in Australia, India and Hong Kong. There is a potential $5,000 per supplier, per annum for these agreed and announced deals. During the trip Ronald Duncan and his local team members have been closing additional opportunities in Australia, Singapore and in India with Synise and other prospects.  The final event of the tour was yesterday in Dubai where there was good interest in the cloudBuy solution set.

The focus has been on prospects with large numbers of transactions and suppliers. The opportunities give access to an additional 20,000 suppliers and up to $2bn of transactional revenue for which the Company have agreed transaction fees ranging from 2%- 5%.

Ronald Duncan, Chairman and CIO of cloudBuy commented, "We have had genuine interest in the different geographies and all of the delegates and prospects that I have met with are facing similar challenges.  There is real appetite for technology and especially in India and the Middle East the speed of market development is tangible, with a sense of excitement that the West hasn't felt since the dot.com boom.  This trip has confirmed for me the opportunity available to the Company; we have appropriate mature technology and the potential to become a major player in these emerging markets."

For further information, please contact:

About cloudBuy PLC

cloudBuy, formerly @UK, is a world-leading transactional cloud platform.

cloudBuy has used the platform to build world-leading business to business (B2B) ecommerce and e-procurement applications, which address the full range of buying and selling activities in an easy-to-use web and mobile digital experience.  The platform is also used to build complementary applications such as content management, secure email and big data analysis.

To date, the applications have processed over $500 billion of spend, and are being used by leading organisations around the world to deliver savings, increase profits and improve services.

The applications are unique in delivering correct pricing in the complex world of B2B procurement, whilst being simple enough for anyone to use - to the extent that people with disabilities can easily use a Care marketplace version 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

END


NRAZMMZGLGLGDZM