LONDON (Alliance News) - Procurement and tendering service company EU Supply PLC Tuesday said it has signed a three-year framework agreement with the Lithuania Public Procurement Office under which it will provide its tender management product to the public body.
EU Supply's Complete Tender Management product has been designed to be used by public sector bodies to handle their electronic tendering processes.
"While the Public Procurement Office is not obliged to order any services under the framework agreement, it has already identified a number of enhancements and state system integrations," said EU Supply in a statement.
EU Supply said the maximum value of the framework agreement over three years is GBP750,000, excluding VAT.
"We anticipate that a three year support contract with a value of approximately GBP300,000 will be called-off shortly and that most of the integration and enhancement services would be added during 2014-2015," the company said.
Last month, EU Supply said it had won a number of smaller licensing and supply agreements so far in 2014, particularly in the UK and Denmark, and it expects to win major new contracts in Norway shortly after the launch of a product there.
EU Supply shares were up 1.3% at 34.20 pence Tuesday morning.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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