BlackBerry to buy security company

Canadian smartphone maker Blackberry says it will pay $US425 million, in cash, to buy security-related company Good Technology.

The logo outside the Blackberry campus in Kanata, Ottawa, Canada

Blackberry says it will buy security-related company Good Technology for $US425 million in cash. (AAP)

BlackBerry says it will make another security-related acquisition, buying Good Technology for $US425 million ($A613.81 million) in cash.

BlackBerry, once known for making smartphones, is now trying to focus on software that lets IT departments manage mobile devices.

The company said Good Technology will help it offer a unified secure platform for mobile devices that runs on any operating system. It said Good Technology has about $US160 million in annual revenue, while BlackBerry has reported about $US3 billion in revenue in its last four fiscal quarters.

The Canadian company expects to complete the purchase by the end of November.

Earlier this year, BlackBerry bought WatchDox, a provider of secure enterprise file-sync-and-share technology, and agreed to buy AtHoc, a software company that develops emergency alert systems for government agencies, military bodies, and other organisations.

The company also announced a round of job cuts earlier this year as it restructures its business and deals with weak smartphone sales. BlackBerry has eliminated thousands of jobs in the last few years under chief executive John Chen, who and has focused on reducing costs and increasing innovation.


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Source: AAP


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