WATERLOO, Ont. — BlackBerry Ltd. (TSX:BB) has a friendly deal to buy former rival Good Technology for US$425 million in cash.
The Canadian smartphone company says Good Technology of Sunnyvale, Calif., will provide complementary technology that works on a range of operating systems, including those used by Apple's devices.
About two-thirds of Good Technology's product activations are on devices using Apple's iOS and the remainder are on Android and Windows devices.
BlackBerry has its own operating system but has been working to broaden its product reach, including through closer integration with Android-driven devices from Samsung.
The smartphone company, based in Waterloo, Ont., has been losing market share and revenue to rival products such as Apple's iPhone and Samsung Galaxy smartphones.
The Good Technology deal is subject to certain conditions but BlackBerry says it expects to get about US$160 million in additional revenue in the first year.
The Canadian Press