BlackBerry Ltd (NASDAQ:BBRY) has announced that it has acquired Movirtu in a move that strengthens the company’s offerings in the bring-your-own device (BYOD) and corporate owned personally enabled (COPE) space.
The terms of the deal between BlackBerry Ltd (NASDAQ:BBRY) and the U.K.-based Movirtu which develops systems that lets users use different phone numbers on a single device were undisclosed.
BlackBerry Ltd (NASDAQ:BBRY) Executive Chairman and CEO John Chen said in a statement that as people and organizations still encounter challenges in the BYOD and COPE world, their acquisition of Movirtu will help the companies help those encountering these problems.
“The acquisition of Movirtu complements our core strategy of providing additional value added services, and it will leverage our key assets, including our BES platform, along with our existing global infrastructure which is connected to a large number of mobile operators around the world,” Chen said.
Meanwhile, Carsten Brinkschulte, CEO, Movirtu, said that BlackBerry Ltd (NASDAQ:BBRY) “is the best partner to help us carry forward our vision of redefining the mobile experience by introducing virtual identities.”
Movirtu makes essentially a virtual subscriber identity module (SIM) module which lets users choose different profiles for calls, data and messages.
In a post on the BlackBerry Business Blog, Brinkschulte said that his company agreed to be purchased by the smartphones maker because they shared a common goal of bettering the current enterprise communications space. Furthermore, the Movirtu CEO said that BlackBerry Ltd will be a great partner in rapidly deploying his company’s system to corporate customers through the Canadian company’s global infrastructure and relationships with operators.
Brinkschulte said that Movirtu’s technology will likely be used in BlackBerry Ltd’s Secure Work Space, BlackBerry Balance and other partitioning technologies.
BlackBerry Ltd (NASDAQ:BBRY) shareholders includes Prem Watsa’s Fairfax Financial Holdings. The firm reported about 46.65 million shares in the company by the end of the second quarter of the year, a stake that was then valued at about $447.77 million and accounted for a massive 32.67% of the firm’s whole portfolio.