Shares of Blackberry Rise After Announcement of Partnership With Microsoft

Photo by Enrique Dans from Flickr

The shares of BlackBerry rose by about 5 percent after hours on Monday following the announcement of the company regarding a new deal that is was able to finalise with Microsoft. .

The company said that it would enter a partnership with Microsoft in order to provide a secure environment for various application of the Microsoft Office such as PowerPoint, Word, or Excel. The said product will help business users have access to the apps on both Android and Apple devices.

The said partnership highlights workers who require high levels of compliance and cyber security when they are working from their phones such as employees of healthcare providers, banks, central governments, and law firms. The said partnership also plays to one of the strengths of BlackBerry, enterprise, from the heyday of the company’s mobile phone business.

In 2016, BlackBerry announced that it would stop hardware manufacturing and design of mobile phones, marking the demise of the iconic keyboard-clad handsets. However, at that time, John Chen, the CEO of Blackberry, informed CNBC that the company was “really more worried about the ‘smart’ of the smartphone, not the ‘phone’ part of it.”