BlackBerry to acquire Good Technology
It has been reported by Canada's BlackBerry Ltd that it will acquire mobile software provider Good Technology Corp for $425 million. As per the company, the deal will increase its ability to assist corporate clients manage smartphones that run on different operating systems.
This deal could help the company bring new customers, when it comes to its services business, which is a priority with its focus shifting to device management software for enterprise customers.
As per reports, over half the devices that run on Good's systems are products of Apple Inc like the iPhone. According to BlackBerry, it is looking forward to realize nearly $160 million in revenue from the deal in the first year following the deal closes, which is expected to occur by November. Toronto listed shares of the company rose 1.1% at C$7.97 in early trading.
When question regarding Good's cash burn was asked, BlackBerry Chief Executive John Chen assured that on the whole, BlackBerry would remain cash flow positive. He was speaking on a call with analysts and investors.
According to Chen, "There obviously will be hard work involved. But I do see a lot of opportunity here to drive value for our shareholders. By acquiring Good, BlackBerry will better solve one of the biggest struggles for CIOs today, especially those in regulated industries”.
Chen added that BlackBerry will maintain products of both the companies with development of combined platform that can be upgraded by customers. He added that it may take a year or two for a unified product.
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