BlackBerry isn’t doing so well these days, but it turns out it has more money than you might have thought. Today it’s acquired a California-based mobile security company called Good Technology for $425 million in cash.
Good Technology was a competitor of BlackBerry’s that provided bring-your-own-device security platforms within larger companies. The companies were rivals for a long time — a BlackBerry blog post from earlier this year called out Good Technology for offering a service that it claimed was inferior to its own.
As BlackBerry has struggled to gain back lost smartphone market share it’s diversified how it makes money by making available its products cross-platform for the first time and now, with this acquisition, pushing deeper into enterprise deployment of mobile devices.
Good Technology’s mobile platform also specializes in Android device deployment for businesses, which is an interesting coincidence considering BlackBerry is expected to release an Android handset soon.