The Canadian phone maker Blackberry Limited would buy out mobile security firm Good Technology
The Canadian phone maker Blackberry Limited has decided to acquire an organization. Blackberry news revealed that the firm would purchase Good Technology Corporation for $425,000,000.This acquisition would help the North American giant gain mobile product management clients while reducing its rivals in that industry.
Blackberry news today affirmed that the California based firm Good Technology, develops programs to let workers work safely from their personal phones. It includes G7 governments and some of the world’s biggest financial institutions and law companies in its 6200 clients, as stated by the Waterloo based enterprise. The takeover lets the firm get rid of a rival which had decreased its customers as more employees replace their company provided BlackBerrys with their own iPhones and Android products. An official of Bloomberg intelligence John Butler believes that the procurement of the new firm would prove to be useful for Blackberry as it would not only help it but also improve its capacity to battle with larger competitors.
Blackberry Breaking news disclosed that Blackberry’s CEO John Chen has stated that the firm would integrate the acquired enterprise’s secure electronic mailing applications with its expertise in letting organizations safeguard and manage thousands of linked tablets and phones. The mobile security providing organization’s CEO Chirsty Wyatt stated that the firm delayed a planned IPO in 2014 because of its deteriorating market conditions, people aware of the matter stated at the time.
An official at Bloomberg Intelligence, Matt Larson informed that a Jury has found out that Mobile Iron Inc didn’t violate Good Technology’s patents and that some of its patents were not validated. That could have adversely affected the American high tech firm’s valuation. The phone manufacturing firm has forecasted that it would earn revenue worth $160,000,000 from the corporation in the first 12 months, after taking into account some of the firm’s postponed revenue, Chen stated. Such an earning would let the CEO achieve his objective of increasing yearly software revenue to $500,000,000 by March 2016.
Commercial sources have informed that it has been anticipated that the takeover would take place in the later part of this year. The deal would play a significant role in helping Blackberry battle with a number of highly advanced firms encompassing Mobile Iron Inc, VMare Inc’s Air Watch and Citrix Systems.
Market analysts have claimed that the acquisition would not only improve Blackberry’s financial position but also improve its image in the corporate world.