Cloudbuy confident after successful trip in the Middle East and Asia Pacific

Cloudbuy gave an update about its “peak performance” tour in the Middle East and Asia Pacific regions, saying the trip put the company in a position to become “a major player” in the emerging markets.

The event built upon the PR resulting from recent deals in Australia, India and Hong Kong.

Cloudbuy said there is a potential $5,000 per supplier and per annum for these deals which have been agreed and announced.

The group said there are opportunities to give access to an additional 20,000 suppliers and up to $2bn of transactional revenue.

Chairman Ronald Duncan said: “There is real appetite for technology and especially in India and the Middle East the speed of market development is tangible, with a sense of excitement that the West hasn't felt since the dot.com boom.

“This trip has confirmed for me the opportunity available to the Company; we have appropriate mature technology and the potential to become a major player in these emerging markets."

Shares were up 5.68% to 37.78p on Tuesday.