CBUY.L Regulatory News (CBUY)

cloudBuy plc

("cloudBuy" or "the Company")

Contract Win

cloudBuy plc (AIM: CBUY), the global provider of cloud-based e-commerce marketplaces and B2B buyer and supplier solutions, announces that it has signed a contract with HealthShare NSW in Australia, the service delivery arm of NSW Health. The contract, valued at £332,996 (AUD $621,371), is for an initial three year period with the option to extend for a further two years. Revenue will be recognised over the life of the contract with a small weighting towards the first year and is expected to commence in H1 2016. The contract has been won following an extensive competitive tender process.

Under the terms of the contract, cloudBuy will supply its SpendInsight solution, along with Global benchmarking, professional services, hosting, training and support, to provide the customer with regular analysis of its historical spend data and help identify areas for savings and efficiency improvement.

HealthShare NSW's mission is to deliver more efficient support services for NSW Health, which in turn is responsible for managing and delivering public health services within the Australian state of New South Wales. On any business day HealthShare NSW procures, picks, packs and delivers around 13,500 stock lines to hospitals and processes 3,200 purchase orders and 7,000 accounts payable invoices.

The agreement was initially referred to in the trading update announced on 24 March 2016 when cloudBuy had been selected and this announcement confirms the signing of the contract.

Lyn Duncan, cloudBuy CEO, said, "We are pleased to secure this key Australian client, demonstrating our growing credentials in this market. HealthShare NSW is Australia's largest public sector shared services provider. cloudBuy's SpendInsight solution will be used to analyse their spending to help them identify the areas of the organisation, products, suppliers and contracts on which to focus on to gain the greatest or fastest savings and efficiencies."

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About cloudBuy plc

cloudBuy, (AIM: CBUY), provides cloud solutions for buyers and sellers - and brings them together to trade securely and ethically via an increasing number of public e-marketplaces and private purchasing portals around the world, powered by cloudBuy e-commerce technology.

cloudBuy solutions for buyers help B2B purchasers understand and control their spend, to reduce costs and increase value. Our cloudSell solutions enable sellers of all sizes, from startups to corporates, reach new customers and grow their business.

cloudBuy's technology platform powers web sites, public marketplaces and private purchasing portals that enable all types of online interactions and relationships including, citizen and business to government; consumer to business; and business to business.

For more information visit: www.cloudbuy.com

Twitter: @cloudbuyplc

About HealthShare NSW

HealthShare NSW is the service delivery arm of NSW Health. It provides services such as finance, payroll, workforce, warehousing and procurement, food, hotel, linen, non-emergency patient transport and equipment for people with a disability to NSW public health agencies. 

HealthShare NSW are 'People helping people deliver excellent healthcare'. Its team of 6,400 employees support a health workforce of about 140,000 - who in turn care for more than one million patients per year. This makes it Australia's largest public sector shared services provider. 

For more information visit: www.healthshare.nsw.gov.au