BlackBerry Launches New Professional Cybersecurity Services Practice to Expand Portfolio
BlackBerry acquires Encription to provide customers industry-leading threat mitigation and cybersecurity services
WATERLOO, ONTARIO--(Feb. 24, 2016) - BlackBerry Limited (NASDAQ:BBRY)(TSX:BB), a global leader in secure mobile communications, today announced the launch of its new Professional Cybersecurity Services practice that will further expand BlackBerry's security portfolio by offering organizations new consulting services, tools and best practices to assess and thwart ever-changing cybersecurity risks.
Cybersecurity is a persistent and increasing business risk for organizations that depend on mobile endpoints that connect through networked and cloud-enabled platforms. It is estimated that data breaches currently cost the global economy more than $400 billion every year.(1) Some industry sectors, such as automotive, are being forced to grapple with cybersecurity threats for the first time as cars become more connected, intelligent and self-sufficient. As cybersecurity threats become more pervasive with increasing Internet connectivity, there is a greater demand for more robust defensive tactics to combat these risks. BlackBerry's Professional Cybersecurity Practice is intended to address that market demand.
Cybersecurity consulting is currently estimated to be a $16.5 billion annual global business that is forecast to grow to $23 billion per annum by 2019.(2) As such, cybersecurity consulting represents a natural market opportunity for BlackBerry since it already securely manages hundreds of millions of mobile endpoints and provides critical systems software for more than 60 million connected cars.
BlackBerry's new cybersecurity consulting services and tools, combined with BlackBerry's existing security solutions will help customers identify the latest cybersecurity threats, develop risk appropriate mitigation strategies, implement and maintain IT security standards and techniques and defend against the risk of future attacks. BlackBerry's new global Professional Cybersecurity Services practice will address:
- Strategic Security: best practices in IT operation ranging across enterprise mobility management and cloud services.
- Technical Security: technical assistance for infrastructure and product development lifecycle.
- Automotive and IoT Security: security consulting services as the rapid commercialization of IoT solutions makes security and privacy a top priority.
- Detection, Testing and Analysis: threat detection and mitigation penetration testing, vulnerability assessment and incident response analysis. This includes forensic services, business security status via IT health checks, training, regulatory compliance and security breach management through incident response.
As part of the new Professional Cybersecurity Services practice - and aligned with BlackBerry's core emphasis on securing mobile communications across all platforms - BlackBerry acquired UK-based Encription Limited, which brings years of cybersecurity consulting experience to the organization. The acquisition of Encription was completed on February 19, 2016. Specific terms of the deal are not being disclosed.
Encription's specialties range from deep technical skills in software security to hardware capabilities. This includes industry-leading assessments in penetration testing, mimicking the techniques of malicious hackers to ensure organizations are aware of cyber risks posed by criminal hackers and how to address them. Additionally, Encription has been entrusted by one of the UK government's highest security standards with the CESG CHECK IT and ISO/IEC 27001 certifications. This adds another significant security certification to BlackBerry's portfolio in order to meet the stringent standards and requirements for countries the company serves.
"BlackBerry is the gold standard when it comes to security and we're always evolving to maintain this high standard as the complexity of enterprise mobility and security increases," said John Chen, Executive Chairman and CEO, BlackBerry. "We recognize that security vulnerabilities are a top risk concern for public and private sector organizations alike. The creation of our Professional Cybersecurity Services practice and acquisition of Encription reinforces our commitment to providing customers the industry's most secure mobility solutions and helping them to assess and mitigate risks."
BlackBerry has provided the world's most secure mobility solutions for more than two decades, and has earned more than 70 government certifications and approvals - greater than any other mobile vendor. BlackBerry is also the trusted mobility partner of all G7 governments, 16 of the G20 governments, 10 out of 10 of the largest global banks and law firms, and the top five largest managed healthcare, investment services, and oil and gas companies.
BlackBerry is securing a connected world, delivering innovative solutions across the entire mobile ecosystem and beyond. We secure the world's most sensitive data across all end points - from cars to smartphones - making the mobile-first enterprise vision a reality. Founded in 1984 and based in Waterloo, Ontario, BlackBerry operates offices in North America, Europe, Middle East and Africa, Asia Pacific and Latin America. The Company trades under the ticker symbols "BB" on the Toronto Stock Exchange and "BBRY" on the NASDAQ. For more information, visit www.BlackBerry.com.
Forward-looking statements in this news release are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used herein, words such as "expect", "anticipate", "estimate", "may", "will", "should", "intend", "believe", and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by BlackBerry Limited (and/or any of its subsidiaries) in light of their experience and their perception of historical trends, current conditions and expected future developments, as well as other factors that BlackBerry believes are appropriate in the circumstances. Many factors could cause BlackBerry's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including those described in the "Risk Factors" section of BlackBerry's Annual Information Form, which is included in its Annual Report on Form 40-F (copies of which filings may be obtained at www.sedar.com or www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on BlackBerry's (and/or any of its subsidiaries') forward-looking statements. BlackBerry has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
(1) 2015 Cost of Data Breach Study: United States, Ponemon Institute, May 2015
(2) "Forecast Analysis: Information Security Worldwide", Gartner, 2015
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