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Why The Dicker Data (ASX:DDR) Share Price Is Rising

The Dicker Data (ASX: DDR) share price is up more over 3% after announcing a new distribution agreement.

Dicker Data is Australia’s largest and oldest distributor of information technology products. Having started in 1978, it has been operating for over 40 years and was listed on the ASX in 2011. Some of the brands Dicker Data sells include HP, Cisco, Microsoft, Lenovo, Symantec, RSA, Toshiba, Samsung, ASUS and so on. Dicker Data has over 5,000 reseller customers.

Dicker Data’s Latest Distribution Agreement

Dicker Data has revealed it has been chosen as Check Point’s newest distributor for the Australian market.

Check Point is a multinational provider of software and combined hardware & software products for IT security, including network security, endpoint security, cloud security, mobile security, data security and security management.

This new distribution agreement is effective immediately.

Dicker Data Chairman and CEO David Dicker said: “I’m pleased to be announcing the expansion of our security portfolio to include Check Point. In the past two years we’ve been focused on building a comprehensive security practice offering end to end security solutions for our reseller partners.

As we launch our partnership with Check Point, we’re further cementing Dicker Data’s position as the security distribution destination for the Australian IT channel.

As reported in our September market update, our subscription revenue in FY19 revenue has grown at 90% year on year. The addition of Check Point will assist us in continuing to grow our subscription revenue in FY19 has grown 90% year on year. The addition of Check Point will assist us in continuing to grow our subscription revenue in Q4 and in FY20.”

The Dicker Data share price has risen a lot during 2019. Since the start of the year the Dicker share price has gone up by 140%, making it one of the highest performing shares on the ASX this year.

At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.

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