Glassdoor is a career community that depends on everyone being in a position to share an inside appear at a business they know. BlackBerry Limited (NASDAQ: BBRY TSX: BB) announced this morning that it has entered into a definitive agreement to acquire Good Technology for $425 million in cash. They have been $24 million in debt when their filed their S-1 (16 months ago) and never completed the intended IPO. It really is extremely probably that a combination of slowing revenue development and a non-existent road to profitability led Good’s management and investors to take BlackBerry’s acquisition provide.
BlackBerry’s stock is presently up 1.54% even though the broader NASDAQ is down -1.04%. Achievement will depend on how swiftly BlackBerry can integrate Good’s technologies into its own and how properly they can sell the combined platform. BlackBerry stated it expects to realize about $160 million in income from the acquisition in the first year after the deal closes, expected by late November. Relations in between BlackBerry and Silicon Valley-primarily based Very good had long been tense.
On Friday, he compared the acquisition of Great with previously announced offers for Secusmart, Movirtu and WatchDox. J.P. Morgan Securities LLC and Bank of America Merrill Lynch advised Very good on the deal, BlackBerry said. Glassdoor has salaries, wages, guidelines, bonuses, and hourly spend submitted anonymously by 173 Good Technology personnel. Blackberry plans to incorporate the application solutions supplied by Good Technology into the Blackberry software program suites. The technologies will be extended to a number of applications and platforms although keeping individual privacy.
Blackberry expects the impact of the acquisition to begin reflecting in the company’s income and money flow within the very first year. Good Technology is anticipated to collect revenues worth up to $60 million inside the very first year. Blackberry’s CEO, John Chen stated that his company and Good Technology are complementary. The acquisition will allow the firm to overcome the riddle of how to manage all the deployment models utilised across the different operating systems.
The combined technology will produce much more worth by way of the ability to extend across the enterprise mobility management. IDC’s Enterprise Mobility Study Director added that the acquisition brings added worth to the EMM solutions by way of application containerization on Android and iOS, like solutions for third celebration apps. They got the last laugh since Good was a competitor that claimed superiority to BlackBerry’s MDM/EMM solutions.