BlackBerry Limited (BBRY – Free Report) launched its mobile security platform which is primarily designed for Enterprise of Things (EoT). The move marks the software-centric approach that BlackBerry intends to adopt after it announced to discontinue the manufacturing of mobile handsets earlier this year. The new security platform integrates all the previously acquired assets and technologies of Good Technology, WatchDox, AtHoc and Encription.
Recently, BlackBerry partnered with Zimperium – a well known provider of mobile threat detection platforms to augment mobile security for enterprise and government customers.
Enterpriseof Things
EoT will facilitate the deployment of big data solutions, including big data storage and data analytics, to productively exploit the vast amounts of real-time data of the organization. Moreover, the enterprises are now steadily adopting Bring Your Own Device (BYOD) policies which allow employees to use their own personal phone for work. This has transformed the mobile security market from device-based platform to an isolated security solutions provider for enterprises. Although EoT is still in its nascent stage, gradual adoption of Internet of Things (IoT) will leverage the adoption of EoT in the businesses.
The Bottom Line
Blackberry’s endeavors signal its intention to shed its image as a device manufacturer. Their strategy is highly biased toward the IT and security solutions. The acquisitions are perfectly in sync with the long-term plan of the company. Though it will be interesting to see how Blackberry competes against major players namely International Business Machines Corporation (IBM – Free Report) , Microsoft Corporation (MSFT – Free Report) and SAP SE (SAP – Free Report) in the near term. It’s also to be seen whether the company can reclaim its once eminent status in the mobile security market.
Price Performance of BlackBerry
Year to date, BlackBerry experienced a price decline of 17.8%, underperforming the Zacks categorized Non U.S. wireless industry’s decline of 5.46%. The company’s price decline can be attributed to due to its disappointing results (mention the quarter). However, due to its current restructuring efforts in a bid to become a software-oriented company, we are somewhat optimistic about its future prospects. This is the primary reason why BlackBerry currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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