Contract Win

20 February 2014

cloudBuy plc ("cloudBuy" or "the "Company")

CONTRACT WIN

cloudBuy (AIM: CBUY), the cloud eCommerce marketplace, is delighted to announce that it has won a contract with a major central Government Agency ("the Agency") to provide an Intranet system using cloudBuy's content management technology.

The agreed revenue is £406k with approximately £200k of immediate potential follow-on revenue giving potential total revenue in year one of £600k, followed by recurring revenues.

The cloudBuy content management system provides a sophisticated Intranet capability, which will significantly enhance the Agency's ability to manage internal processes and communications.

Ronald Duncan, Chairman of cloudBuy plc, commented: "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. 

"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."

For further information please contact:

About cloudBuy PLC

cloudBuy is the world's leading transactional Cloud Platform with over 1 million buyers. The platform supports B2B eCommerce and eProcurement across a range of public and private sector organisations providing a secure, controlled transactional environment for B2B trading. The technology is unique in the B2B market, in that it delivers the B2C internet shopping experience in a business environment. 

The platform has been rebranded to cloudBuy.com for global expansion with Visa and partner banks. The platform is PCI DSS accredited, providing secure, integrated financial transactional capability, delivering savings to both the buyer and the supplier through greater accounts payables accuracy, reduction of manual processes and elimination of paper.

cloudBuy provides an immediate business case using SpendInsight. SpendInsight was developed to recognize, match and classify products and services, providing buyers with greater visibility to spend data, and supports the identification of cashable savings, through unique product level matching artificial intelligence. The output from this is then passed to the Visa member bank, for analysis by Visa to identify which suppliers accept card payments currently and compute the potential card rebate to fund the B2B ecommerce platform.

For more information, visit www.cloudbuy.com

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