Jun 24, 2020 (Baystreet.ca via COMTEX) -- When BlackBerry /zigman2/quotes/206834662/delayed CA:BB -1.66% formed a security partnership with Bell Canada /zigman2/quotes/208173581/delayed CA:BCE -0.60% , it gave the company's software arm a stronger footing. Investors cannot compare BlackBerry's prospects to the superior performance of Crowdstrike /zigman2/quotes/212513426/composite CRWD -7.75% . Still, the deal should set a floor on BB stock.
BlackBerry will become Bell's preferred Mobile Threat Defense partner. The company will supply enterprise customers with access to BlackBerry Protect. They will get an MTD solution that blocks malware infections, provide application integrity checking, and prevent URL phishing attacks.
The press release did not detail the value of the partnership and what revenue lift it will give to BlackBerry. And although markets reacted more favorably to rumors of Fairfax buying it out, shareholders should still welcome the business development.
CrowdStrike is a better-performing stock. Its shares fell to around $32 before trading in the $100 range last week. The company posted incredibly strong revenue of $178.1 million, up 85.4% from last year. Its annual recurring revenue grew 88% Y/Y to $686.1 million.
BlackBerry is not there yet in growing its Cylance and MTD solution. Still, the increased demand for threat detection solutions should help the turnaround firm post better software sales results in the next few quarters ahead.
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