by Reuters | Business
BlackBerry has moved further into services, buying British cyber security consultancy Encription. It was the latest in a series of acquisitions that is changing the smart phone maker into software-focused business. The move is part of Blackberry's strategy for it's ongoing turnaround after it lost a huge market share to rival brands.
According to Reuters, Blackberry revealed the acquisition on Wednesday as it eyes the $16.5 (£11.9) billion a year industry.
Blackberry - smartphone industry pioneer, said it sees massive potential in the area. But the terms of the Encription deal, which closed Friday, were not disclosed.
The acquisition will bring a team of about 40 cyber security professionals, who have helped test network vulnerabilities for both government agencies and large corporate entities, into the BlackBerry fold.
"This is a natural extension of what we do right now," said James Mackey, BlackBerry's head of corporate development. "We're very excited about this new offering and we think it is highly complementary and a nice addition to our security portfolio."
The acquisition will give BlackBerry the opportunity to also cross-sell some of its own security products after it agreed to acquire rival security software maker Good Technology for $425 million in September
Blackberry had also acquired privately-held AtHoc, a provider of secure, networked crisis communications.
"BlackBerry is attempting to boost revenue from software and services to offset the revenue declines from its smartphone unit and legacy system access fees." Reuters said.
According to Reuters, Blackberry revealed the acquisition on Wednesday as it eyes the $16.5 (£11.9) billion a year industry.
Blackberry - smartphone industry pioneer, said it sees massive potential in the area. But the terms of the Encription deal, which closed Friday, were not disclosed.
The acquisition will bring a team of about 40 cyber security professionals, who have helped test network vulnerabilities for both government agencies and large corporate entities, into the BlackBerry fold.
"This is a natural extension of what we do right now," said James Mackey, BlackBerry's head of corporate development. "We're very excited about this new offering and we think it is highly complementary and a nice addition to our security portfolio."
The acquisition will give BlackBerry the opportunity to also cross-sell some of its own security products after it agreed to acquire rival security software maker Good Technology for $425 million in September
Blackberry had also acquired privately-held AtHoc, a provider of secure, networked crisis communications.
"BlackBerry is attempting to boost revenue from software and services to offset the revenue declines from its smartphone unit and legacy system access fees." Reuters said.
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