Blackberry to acquire mobile security firm Good Technology for $425M
Company continues move toward secure cross-platform software with deal
WATERLOO, Ont.—BlackBerry Ltd. is continuing its strategic shift toward security and software with yet another acquisition in the space.
The company has announced it will acquire Sunnyvale, Calif.-based Good Technology for $425 million in cash, a move the company said is aligned with its strategy to offer customers a secure, end-to-end enterprise solution across any operating platform.
“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,” John Chen, BlackBerry executive chairman and CEO, said.
“By providing even stronger cross-platform capabilities our customers will not have to compromise on their choice of operating systems, deployment models or any level of privacy and security. Like BlackBerry, Good has a very strong presence in enterprises and governments around the world and, with this transaction, BlackBerry will enhance its sales and distribution capabilities and further grow its enterprise software revenue stream,” he added.
Blackberry said Good’s capabilities and technologies are complimentary to its own and allow it to expand its presence with global enterprise and government customers. The company noted Good serves more than 6,200 organizations, including more than half of the Fortune 100, and industries as diverse as banking and manufacturing.
The Waterloo-based company will integrate Good within its enterprise portfolio, which already includes BBM, WatchDox – which the company bought earlier this year – and Good Work.
BlackBerry expects the transaction to be completed toward the end of the company’s 2016 fiscal third quarter. It remains subject to customary closing conditions.