Movirtu's Virtual SIM platform enables "split billing" for iOS, Android, and BlackBerry smartphone by allowing a personal number and a business number, each with separate voice, data, and messaging usage, on one device. The platform lets users easily switch between the two profiles so they don't have to carry around multiple devices or SIM cards.
The acquisition will help improve device management in "bring-your-own device (BYOD) and corporate owned personally enabled (COPE) environments," according to BlackBerry.
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"The acquisition of Movirtu complements our core strategy of providing additional value added services, and it will leverage our key assets, including our BES platform, along with our existing global infrastructure which is connected to a large number of mobile operators around the world," BlackBerry CEO John Chen said in a statement.
TheStreet Ratings team rates BLACKBERRY LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLACKBERRY LTD (BBRY) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."