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Dropsuite (ASX:DSE) builds partnership base over December quarter
  • Data backup company Dropsuite (DSE) signed several new partnerships over the December quarter
  • Along with a major 1&1 IONOS deal, the company partnered up with tech businesses
  • The services provided include direct marketing, web hosting, and product distribution
  • Each of the companies has been integrated with Dropsuite's tech, which is now being sold to end-customers
  • Shares in Dropsuite gained 18 per cent today to close at 5.9 cents each

Data backup specialist Dropsuite (DSE) is wedging its way onto the global tech platform with a strong suite of new partnerships over the December 2019 quarter.

The company told investors today that since October's 1&1 IONOS deal, five new partnerships were signed. Each of the new partners has been integrated with Dropsuite's software which is now being sold to end-customers.

Importantly, the partnerships are financially fruitful for Dropsuite: the company said transacting partners are up 57 per cent compared to this time last year, and 13 per cent quarter-on-quarter.

Dropsuite said in October the IONOS partnership was already generating annual recurring revenue (ARR), and today said the five new deals are growing its ARR base.

The partnerships include Plesk, PCM, Ingram Micro, Assured DP, and ConnectWise. The services these new partners offer range from direct marketing to web hosting to computer product distribution.

With Dropsuite's software integrated into its partner's services, the tech now has a wider reach and can be rolled out more easily into different areas of the technology sector.

To complement the growth, Dropsuite has also upgraded the security capabilities of its tech over the last quarter. Its product now includes Microsoft Authentication support, meaning users can access their data through the same login and security practices of existing Microsoft accounts.

On top of this, Dropsuite also launched multi-factor-authentication for its products, which means a user has to verify their identity in two or more ways in order to access Dropsuite's backups on a new device.

Dropsuite Managing Director Charif Elansari said the December quarter was "exceptionally productive".

"We have established an excellent foundation for growth in calendar 2020 and beyond, underpinned by greater partner diversity and an ever-growing ARR base. The quality of the new partners is particularly noteworthy and reflects the trust and dependability of our world-class technology suite," Charif said.

While the revenue pulled in from these partnerships is yet to be revealed, Dropsuite said it would be releasing its December quarterly report towards the end of January.

Shares in Dropsuite gained 18 per cent today to close at 5.9 cents each.


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