RNS Number : 2498R
EU Supply PLC
08 December 2016
8 December 2016
EU Supply plc
("EU Supply", the "Company" or the "Group")
Distribution Agreement in Germany
EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that the Group has signed a distribution agreement (the "Distribution Agreement") with T-Systems Multimedia Solutions GmbH ("T-Systems") for distribution of services using its CTM™ platform. T-Systems is a subsidiary of information and communication technology provider, T-Systems International GmbH, which has around 46,000 employees and a footprint in more than 20 countries, and is part of the Deutsche Telekom AG group.
The Company and T-Systems will work together to sell EU Supply's CTM™ platform services into the German market in both the private and the public sectors ahead of the 2018 e-submission deadline pursuant to the 2014 EU Procurement Directives. T-Systems will distribute the CTM™ platform's services in the German market and provide local support and implementation services while EU Supply will provide the SaaS platform and back end support.
The Board expects the Distribution Agreement to contribute to the Group's revenues commencing in 2017 and to make a significant contribution in 2018 and beyond.
Commenting on the agreement, Thomas Beergrehn, CEO of EU Supply, said:
"I am delighted that we have signed this distribution agreement with T-Systems, which has been in the pipeline for some time. With T-Systems' large footprint in Germany, which is a key market with significant potential, combined with our flexible software, we expect this partnership to generate considerable new business for the Group in 2017 and beyond."
Commenting on the agreement, Miroslav Snaidr, Head of Procurement Services of T-Systems, said:
"Together with EU Supply we are expanding our Procurement Services offering. Our customers will benefit from EU Supply's easily configurable CTM™ platform in combination with the efficiency of T-Systems. I am pleased to have a qualified partner such as EU Supply with whom we can offer an excellent solution adhering to the new EU regulations for our customers in Germany."
A copy of this announcement is available at www.eu-supply.com.
Notes to Editors
EU Supply is the UK holding company of the EU Supply Group, a Sweden-based e-commerce business, which has an established, market-leading, multilingual e-procurement platform for esourcing, e-tendering and contract management, tailored for the highly regulated European public sector market.
Since 2006, the Group has invested heavily in employing specialist programmers to add functionality, legal compliance as required and security features to its Complete Tender Management™ ("CTM™") platform to ensure that the Group is ideally placed to secure new contracts with EU Member States and their Contracting Authorities. The platform is available in 16 different languages.
The Directors believe that the Group's CTM™ platform is one of the easiest to use and most functionally advanced solutions available in the market. The CTM™ platform is used by over 7,000 European public sector bodies in 9 EU/EEC Member States and has National Procurement System status in four Member States (the UK, Ireland, Norway and Lithuania).
The Company's shares were admitted to trading on AIM in November 2013. In August and September 2015, the Company raised a total of £2.061m (before expenses) through a placing of new shares and the issue of first and second tranches of Convertible Loan Notes to institutional and other investors.
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