01:38:31 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
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BlackBerry Ltd
Symbol BB
Shares Issued 526,992,630
Close 2014-07-29 C$ 10.32
Market Cap C$ 5,438,563,942
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FP says BlackBerry to acquire Germany's Secusmart GmbH

2014-07-30 08:58 ET - In the News

The Financial Post reports in its Wednesday edition eager to burnish its reputation for security, BlackBerry announced Tuesday it would acquire Secusmart GmbH, the German producer of anti-eavesdropping technology for smart phones. The Post's Armina Ligaya writes Secusmart's technology makes it harder for hackers to eavesdrop on voice calls or steal data. It already counts German Chancellor Angela Merkel as a user of its encryption-enhanced BlackBerry devices. Acquiring Secusmart "fits very well [with] our strategy," said chief executive officer John Chen at a BlackBerry sales event in New York. Secusmart "will be operating as a stand-alone [company], but it will be a cornerstone of our security offering," he said. BlackBerry did not disclose the terms of buying the privately held company. Ms. Merkel was given a BlackBerry Z10 last year outfitted with Secusmart's technology in the wake of revelations the NSA monitored conversations on her mobile phone. BlackBerry is the only handset that passed the German government's standards for secure phones and cleared for use by its officials. Officials at NATO are also looking to acquire the encrypted BlackBerrys, said Secusmart's Hans-Christoph Quelle.

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