cloudBuy announced that it has signed an agreement with UOB. This strategic relationship will leverage cloudBuy's marketplace technology to provide a secure, eCommerce environment for B2B transactions with a B2C-style online shopping experience. Revenue for cloudBuy will be a combination of implementation services, SaaS licence and transaction based revenue. The initial contract term is 5 years. Some revenue from this contract will be recognised in 2016 but it is not expected that this revenue will change market expectations for the year.