Xero shares jump on BT announcement

Published: 6:36AM Tuesday May 12, 2009 Source: NZPA

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  Source: Reuters

• Related

  • Xero signs deal with British Telecom
  • Xero equity raising to fund expansion

Xero's share price rose sharply on Monday after the accounting software company said it had entered a reseller agreement with British Telecom Group plc.

The company's share price rose to a year high of $1.70 but retreated to be up 10 cents at $1.40 in early afternoon trading.

Under the agreement Xero will offer its services to British Telecom's 1.7 million small business customers via their business applications service portal.

The service will be available from July.

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