Adelaide-headquartered IoT specialist Buddy Platform Limited (ASX: BUD) has scored a major breakthrough with the signing of an agreement with one of the world’s largest distributor of technology products, Ingram Micro Inc.
The deal provides nationwide distribution of Buddy Ohm Internet of Things (“IoT”) data management, processing and control platform throughout Canada.
David McLauchlan, CEO of Buddy Platform Limited, this is the company’s biggest deal to date.
“There is one partner that the world’s leading technology companies choose above all others to distribute and resell their products in the Canadian market, and that’s Ingram Micro Canada,” Mr McLauchlan said.
“We couldn’t be more proud that Ingram Micro Canada sought us out for our innovative Buddy Ohm product, and look forward to working with the very best possible partner to take us into the massive Canadian market”.
NYSE-listed Ingram Micro Inc. globally distributes products from over 1,700 suppliers including Apple, Cisco, Google, HP, IBM, Microsoft, Samsung and others, and in doing so, serves over 200,000 resellers in approximately 160 countries around the world. Ingram Micro Canada’s agreement to distribute Buddy Ohm represents their latest IoT and smart cities product to be offered in the Canadian market.
Ingram Micro Canada will offer Buddy Ohm through a series of fixed price bundles, which Buddy management expects to yield up to 4x revenue per facility than any previous deal. Further, if this distribution relationship and region performs comparatively to the Caribbean and Central American market, it is expected to yield more than A$20m in revenue over three years to the Company.
Canada is an energy conscious nation, and one where energy costs are increasing, making this an attractive market for Buddy Ohm to enter. Ingram Micro Canada is wasting no time bringing Buddy Ohm to market, holding and managing inventory to help speed up installation for existing referral partners like mobile operator SaskTel. Other resellers across the Canadian market are expected to follow a similar model.
First sales are expected as a result of this deal in Q3 of FY18.