What happened
Shares of Arlo Technologies (ARLO 0.92%), a leading connected camera brand, jumped on Tuesday. Shares rose as much as 17.6%, closing the trading day up 14.5%.
The stock's gain follows news that the tech company announced a strategic distribution partnership with cloud-based communication software company Calix (CALX 0.79%).
Image source: Getty Images.
So what
As part of the strategic partnership, Calix will work with communications service providers (CSPs) in the U.S. and Canada to educate consumers about Arlo's smart home security products.
"Our strategic partnership with Calix, encompassing a strong network for CSPs, will enable even wider distribution of Arlo's award-winning smart home security products powered by Arlo SmartCloud to communities," said Arlo CEO Matt McRae in a press release about the deal.
Now what
Arlo's security products and services will now be accessible to customers "through their trusted CSP as part of their overall managed Wi-Fi experience," Arlo said.
Arlo added a record 58,000 paid accounts in Q3 as total revenue rose 4% year over year to $110 million. When the company announced these third-quarter results on Sept. 27, management had guided for similar revenue in Q4.
