Xero shares rise after BT deal

Xero's share price rose sharply after the accounting software company said it has 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 10c 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.

- NZPA