BlackBerry spends $425 million to acquire mobile security firm Good Technology61
Good Technology will help BlackBerry in the BYOD era by offering secure apps and containers for any mobile OS, using technology that has been approved by governments around the world. 64% of the handsets managed by Good Technology's MDM platform are iOS powered, followed by a large contingent of Android and Windows Phone devices. The platform offers users app-level encryption, advanced data loss prevention and secure communication between applications.
Good Technology is used by 6200 organizations, including half of the Fortune 100 and all of the commercial banks, aerospace and defense firms in that group. BlackBerry provides secure mobile communications for all of the G7 governments and 16 of the G20. The company also partners with the top ten law firms and global banks around the world.
The transaction is expected to close at the end of BlackBerry's fiscal 2016 third quarter and will be be accretive to the company's earnings and cash flow for the first year after closing.