Corum Group has agreed the terms of a technology co-development with BAMM Group Administration, a company controlled by brothers Feras and Assad Karem, who also head up Pharmacy4Less.
Corum previously announced it is progressing with a cloud-based Head Office solution as a part of the ‘Corum Clear’ suite of pharmacy software products. The agreement with BAMM Group has been established to accelerate this project, accessing additional intellectual property and expertise to complement Corum’s retail and enterprise software road map.
BAMM Group will focus on the development of the software solutions for multistore management and in-store retail operations, while Corum is applying experience and know-how from its RPM Head Office application to create its first major SaaS (Software as a Service) platform.
The platform utilises standardised integration APIs to create an open software environment to encourage partnering opportunities. Corum says the flexibility of the cloud-based solution will enable it to service both enterprise-level organisations and smaller groups cost-effectively.
Corum Clear Head Office is being developed in two stages, both of which will be released during next year. On completion, the intellectual property will be wholly owned by Corum.
As consideration for the technology and co-development contribution, Corum has agreed to the issue of more than 63 million shares to the co-developer in two equal tranches on satisfactory completion of the agreed milestones. The company has also granted a contractual right to participate in future placements.
Corum will contribute financially to software development costs and provide design and development expertise and has agreed to identify and appoint an additional director.