IT Capital makes new investment

Under the deal ITC has made an initial investment of A$1 million, and will invest another A$1million against agreed milestones over the next six months, giving it a 23.5% holding in the company.

ITC says Streamlink is a leading developer of electronic procurement solutions that are used across a broad range of industries to deliver cost savings and efficiency gains through automated purchasing.

The solutions development company boasts a number of blue chip clients including Coca-Cola Amatil, Qantas Airways, and PricewaterhouseCoopers.

ITC's executive vice president, Simon Brown, says over the past eight years Streamlink has been a driving force behind the development of the e-procurement sector in Australia.

"Streamlink's software helps streamline procurement processes within organisations, improving efficiency and lowering costs while enhancing existing buyer/supplier relationships.

"This approach sets it apart from alternative procurement solutions that focus on building external e-marketplaces and compelling companies to change existing procurement relationships."

Mr Brown says the company's decision to invest reflects confidence that the company has global potential.

Other investors in Streamlink include business services company AUSDOC Group.

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