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E-commerce marketplace provider @UK (LSE:ATUK) is to provide e-commerce framework to all public bodies in the United Kingdom, sending the shares up and amongst the top risers in early morning trading in London today.
Only Provider
In a statement released earlier today, @UK won a four-year contract to provide catalogue solution, spend analysis, and PSP transaction exchange, making it the only company to provide all three solutions for the UK public sector.
“The framework covers all UK public bodies, comprising the NHS, local authorities, educational establishments, police and emergency services, central Government departments and their agencies, registered charities, housing authorities and social landlords,” the company said in the statement released to the public.
NHS has already partnered with @UK to provide spend analysis for its Expenditure Carbon Footprint project, aimed to ultimately reduce carbon footprint and generate savings.
“The framework has been led by the NHS in response to the National Audit Office report which used @UK’s unique technology to identify £500 million of savings in NHS consumables through the use of eCommerce,” said @UK Chairman, Ronald Duncan.
SpendInsight, the term coined for the company’s Spend Analysis solution, uses artificial intelligence developed in partnership with the University of Reading and Goldsmiths College London.
This is the second contract acquired by @UK from the public sector for 2012, with the first one announced last February to be one of the supplier of the UK Government’s G-Cloud.
Chairman Comments
Chairman Duncan, commenting on the company’s third contract award for the year, said:
“We are the only company to have been successful in each of the three lots of the national framework agreement and believe the scale of this framework, and our unique position, means that it could be a significant driver of new business for @UK. We look forward to working with all public sector bodies to identify and deliver their savings through use our Spend Analysis and eCommerce Marketplace.”
Company Spotlight
@UK is a UK-incorporated solutions provider of online-based commerce, procurement, and marketplace platforms. The company also assists in company formations and other online needs for start up companies.
Trading on the Alternative Investment Market since 2005, shares of @UK have increased about tenfold since the slump in the market in 2008-2009. At 10:00 AM GMT, @UK share traded for 9.50 pence, up 5.6% from yesterday.
References
↑ Board
↑ Spend Analysis Solution
↑ Investor Relations Company Overview
