Xero signs deal with BT
The good news keeps coming at Kiwi online accounting firm Xero, which has announced a partnership with BT, the leading UK telecommunications company. Xero shares, already lifted by MYOB founder Craig Winkler’s investment and winning global recognition with two Webby awards, rose 20% on the BT news before coming back slightly up on the open. The marketing channel agreement expands Xero’s relationships with leading national telcos targeting small business, including Telecom NZ and Telstra. Telcos can very much more easily reach millions of small business customers in ways and at much lower cost than just about any other channel. BT in particular is seen as the trend-setter in offering a comprehensive suite of products and services for small business, and Xero fits in perfectly. Rod Drury and his team have adopted a smart strategy.
Disclosure: Isambard Investments owns Xero shares.
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