Telstra to become major reseller of Buddy Platform’s Ohm device | Finance News Network

Telstra to become major reseller of Buddy Platform’s Ohm device

Company News

by Jessica Amir

Internet of Things (IoT) data management business, Buddy Platform (ASX:BUD) is in final talks with Telstra (ASX:TLS) for the communications giant to become the primary reseller of Buddy Ohm in Australia.

Buddy Ohm is a energy monitoring and verification device already being sold in Australia, the US, Canada and soon in the UK.

Under the terms of the proposed deal, Buddy Ohm units will be outfitted with Telstra certified modems and Telstra mobile data SIM cards.

Sales from the deal are expected to start this quarter while Telstra’s staff will be trained shortly.

Buddy will also move its key customer accounts to Telstra and ink a distribution agreement with one of Telstra’s third-party product suppliers, M2M Connectivity.

Shares in Buddy Platform (ASX:BUD) are trading about 15.7 per cent higher at 29 cents.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She was a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked as a financial planner and real estate agent.