20th Feb 2014 10:02
LONDON (Alliance News) - cloudBuy PLC Thursday said is has won a contract to provide an Intranet system to a central government agency that could give it up to GBP600,000 in revenue in the first year with scope for recurring revenues to follow.
The cloud eCommerce marketplace said it has agreed revenue of GBP406,000, with about GBP200,000 of immediate follow-on revenue, giving potential total revenue in year one of GBP600,000.
cloudBuy said its content management system will significantly enhance the agency's ability to manage internal processes and communications.
"We are delighted by this contract win as it underscores our leading position in content management technology. We believe that world class content management is a critical piece of the jigsaw when making internal and external changes," Ronald Duncan, Chairman, said in a statement.
"We have been continually improving our content management system for 14 years, and believe that this gives us a significant advantage over our competition in all our markets," he added.
cloudBuy shares were Thursday quoted at 49.76 pence, up 2.51 pence, or 5.3%.
By Samuel Agini; [email protected]; @samuelagini
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