LONDON (Alliance News) - EU Supply PLC Thursday said its partner, Global eSourcing, has won a seven-year service provider deal with the Norwegian Refugee Council and will roll-out its CTM platform in six countries by the end of July as part of the deal.
The software-as-a-service provider said it expects to gradually roll-out its CTM platform across the Norwegian Refugee Council's regions over the next 12 months, and expects full adoption by mid-2016, generating revenue of up to GBP250,000 per year.
EU Supply said the first phase of the roll-out will be for NRC's headquarters in Oslo and six countries in Africa and the Middle East and will take place from now until July. This first phase will represent around a third of NRC's total spend with EU Supply.
"Insights from the rollout in the six countries will be used to potentially roll-out the CTM platform in other countries. The initial phase of roll-out and usage will contribute to revenues primarily from mid-2015," the company said in a statement.
The company said a plan for a phase 2 roll out in additional countries where NRC has operations will be agreed between Global eSourcing and NRC during autumn 2015.
"The board therefore expects the increased usage of CTM by NRC will generate a larger revenue stream for EU Supply in 2016," the company added.
EU Supply shares up 15% Thursday morning following the announcement at 19.50 pence per share.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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