Partnering with other businesses to promote your new product

Have you ever partnered with another business who sees your product / service as a valuable asset to their own and would provide an enhanced feature to their product. The partner in this scenario is not the end customer for your product but rather the partner's own customers are. By partnering, you are providing a valuable enhancement to the partner while at the same time gaining customers for your product. While partnering has been going on for decades, I am more interested in what current trends are in this especially when it comes to providing a new product / service and what challenges need to be overcome for it to be successful.