BlackBerry buys Good Technology for $425M US
BlackBerry Ltd. is buying former rival Good Technology in a deal meant to extend its reach on other mobile platforms, particularly those used by Apple devices.
It will pay $425 million US in cash for the Sunnyvale, Calif., company in a friendly deal which will be complete in the third quarter of 2016.
About two-thirds of Good Technology's product activations are on devices using Apple's iOS and the remainder are on Android and Windows devices.
Waterloo, Ont.-based BlackBerry has hinged its future on expanding its role among enterprises and government departments needing secure mobile technology.
The smartphone company has been losing market share and revenue to rival products such as Apple's iPhone and Samsung Galaxy smartphones.
That means it needs to move rapidly to work across a range of operating systems. About two-thirds of Good Technology's product activations are on devices using Apple's iOS and the remainder are on Android and Windows devices.
Like BlackBerry, Good Technology has been able to get certification for its security features across mobile platforms from government departments that are particularly sensitive to security concerns.
It provides mobile device management, unified monitoring, management and analytics, and a third-party application and partner ecosystem. Among its customers are Fortune 100 commercial banks and aerospace and defence firms.
"By acquiring Good, BlackBerry will better solve one of the biggest struggles for CIOs today, especially those in regulated industries: securely managing devices across any platform," BlackBerry CEO John Chen said in a news release.
