Buddy Platform (ASX: BUD) has secured a global distribution agreement with Ingram Micro, which will sell Buddy’s Ohm products across its international network which reaches 160 countries worldwide.
Ingram turns over more than US$43 billion in sales from its United States headquarters, alone.
Under the agreement with Buddy, Ingram will become Buddy’s primary distribution channel around the world for its Buddy Ohm products, as well as preferred distributor as Buddy branches into new markets.
Ingram currently has existing agreements with Ingram for distribution across the US and Canada and the expanded agreement will leverage off this, which will reduce paperwork and boost Buddy’s pace of expansion.
“When it comes to global distribution of technology and supply chain products and services, Ingram’s global reach is unparalleled, and they stand alone as the partner that can truly help us reach scale around the world,” Buddy chief executive officer David McLauchlan said.
“Building off our recent capital raise of over A$20 million, and the exciting commercial opportunities afforded by our distribution agreements with Ingram’s Canadian and US subsidiaries, we can now rapidly and efficiently take Buddy Ohm to more of the 160 countries worldwide Ingram serves,” Mr McLauchlan added.
Buddy is an internet of things developer and its Buddy Ohm is a low-cost solution for monitoring buildings and consumption of key resources. The product has sensors which track temperature, humidity, electricity, gas, water and stream consumption as well as solar power generation.
The solution can connect systems that were never designed to work together and can assist people with making better decisions with resource management and create energy savings.
Buddy describes the device as an “activity tracker for buildings”.
In addition to Buddy Ohm, Buddy offers two other products including Buddy Cloud and Parse on Buddy.
Buddy Ohm was launched in March last year to expand on the Buddy Cloud platform.
Earlier this month, Buddy began rolling out Buddy Ohm across numerous Caribbean countries and Panama in Central America.
In early afternoon trade, Buddy’s share price had increased 7.5% to A$0.22.