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cloudBuy hooks up with major US procurement services provider

Last updated: 17:30 27 Mar 2015 AEDT, First published: 18:30 27 Mar 2015 AEDT

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Another day, another contract win for cloudBuy (LON:CBUY), with today’s partnership deal being with a major US Cloud-based provider of procurement services.

Following on from yesterday’s news about a collaboration in the Middle East, the AIM-listed e-commerce specialist revealed on Friday it is to hook up with an unnamed US organisation to provide a platform that allows end users to buy from successful tenders.

The service is expected to go live at the beginning of April, and the first customer to sign up is expected to be worth US$600,000 per annum to cloudBuy.

With cloudBuy’s assistance, the US firm – said to have an impressive client list covering public and private sector organisations in the US – will deliver an integrated suite of services that will provide visibility of the throughput and savings achieved.

"The US market is the largest and most mature globally for procurement services. With our partner we can fast track our market entry into the F2000 [Forbes 2000] and already have leads into government and education, healthcare, manufacturing, real estate, chemicals, energy, retail and fast food companies/industries,” said Ronald Duncan, chairman of cloudBuy.

“This capability complements our work in Asia Pacific, particularly in India, where the CII members are of particular interest to global corporates, which source many of their manufactured goods from this group of suppliers," he added.

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