BlackBerry has purchased mobility management software vendor Good Technology for $425 million in cash. Once a leading smartphone vendor, BlackBerry is now concentrating on enterprise mobility software after seeing its market share drop precipitously.
BlackBerry CEO John Chen said the purchase will help BlackBerry "enhance its sales and distribution capabilities and further grow its enterprise software revenue stream." He added, "Our combined product platform will be the industry's broadest and deepest and extend beyond EMM and into the IoT world." BlackBerry expects Good to bring in $160 million in revenue during the next year.