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BlackBerry is buying out a competitor for $425 million

It turns out that despite its descending place in the smartphone market, BlackBerry still has enough cash left over to acquire other companies. This week, BlackBerry announced that it is buying out Good Technology, a company that has been competing with BlackBerry for quite some time.

Good Technology focussed on device management in enterprises. Now that the company has been acquired, BlackBerry may be able to score more contracts with businesses looking to manage their employee smartphones. On top of that, Good Technology also had its own suite of Android apps, which BlackBerry may be interested in considering that the company is gearing up to launch its first Android smartphone. 
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The deal cost BlackBerry $425 million, with the transaction set to complete by November. BlackBerry will likely start making its money back right away too, with an estimated revenue stream of $160 million in the first year.

Additionally, the company has its first Android smartphone lined up for launch at some point this year. We may have already had a look at it back at the Mobile World Congress in March, though BlackBerry has yet to hold an official announcement, or show the device off in-depth.

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KitGuru Says: BlackBerry is still hanging on to the little market share it has left. Maybe this new acquisition will help the company drum up some new business to keep afloat, though it remains to be seen how well its Android device will do in the market.

Via: The Verge

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