Shares of Crexendo Inc (NASDAQ: CXDO) rose 3.9% on Wednesday after the company disclosed a distribution partnership with AppDirect, a provider of an online marketplace used by technology advisors and service providers.
The agreement is designed to expand Crexendo’s national distribution footprint by opening access to AppDirect’s ecosystem of advisors and resellers. AppDirect’s platform allows those advisors and providers to discover, quote, provision, and manage technology solutions through a single marketplace.
Under the terms of the partnership, members of AppDirect’s network will be able to source and deliver Crexendo’s cloud communications suite. The product set available through the marketplace includes voice, video, contact center capabilities, and managed IT services, enabling channel partners to offer a range of unified communications solutions.
Crexendo described the integration as a way to strengthen its channel strategy and to increase scalability via an expanded indirect sales network. Company executives framed the move as supportive of both partner success and customer value.
"This partnership supports our mission of supporting partner success while delivering immense value to customers," said Theresa Weitzel, Director of Channel Sales at Crexendo.
Jeff Korn, Chairman and Chief Executive Officer of Crexendo, said the partnership "represents another important step in expanding Crexendo’s distribution strategy and reinforcing our long-term growth initiatives." He added that "AppDirect’s advisor community and marketplace capabilities provide a powerful channel to accelerate adoption of our cloud communications platform."
AppDirect’s marketplace, which serves technology advisors and service providers, is positioned to let those partners discover, quote, provision, and manage solutions on a single platform. Jason DiFulvio, AVP Channel Sales for AppDirect, commented on the fit between the two companies.
"Partnering with Crexendo allows our advisors to deliver a robust, cloud-based communications platform that meets the evolving needs of today’s businesses," said DiFulvio.
Crexendo offers a cloud communications platform and unified communications as a service offerings aimed at businesses of various sizes. The company intends for the AppDirect relationship to broaden the reach of those offerings by leveraging an established indirect sales channel.
While the announcement linked the stock uptick to the partnership news, details on timing and specific deployment plans through AppDirect’s ecosystem were not provided in the company statement.