On Wednesday, Shares of BlackBerry Ltd (NASDAQ:BBRY), lost -2.16% to $7.24.
BlackBerry Limited declared that it has reached a definitive agreement to acquire Good Technology for $425 million in cash.
The acquisition of Good is aligned with BlackBerry’s strategy to offer customers the most complete, end-to-end solution that secures the entire mobile enterprise, across all platforms. Improved by Good, BlackBerry will expand its ability to offer a unified, secure mobility platform with applications for any mobile device on any operating system – supported with security that has been certified by governments around the world embedded in every component of the mobility infrastructure.
Good will bring complementary capabilities and technologies to BlackBerry, counting secure applications and containerization that protects end user privacy. With Good, BlackBerry will expand its ability to offer cross-platform EMM solutions that are critical in a world with varying deployment models such as bring-your-own-device (BYOD); corporate owned, personally enabled (COPE); in addition to environments with multiple user interfaces and operating systems. Good has expertise in multi-OS administration with 64 percent of activations from iOS devices, followed by a broad Android and Windows customer base.(1) This experience combined with BlackBerry’s strength in BlackBerry 10 and Android administration – counting Samsung KNOX-enabled devices – will provide customers with raised choice for securely deploying any leading operating system in their organization. The proven Good Dynamics platform provides app-level encryption, advanced data loss prevention and secure communication between applications. The platform has more than 2,000 independent software vendor and custom applications built recently.
BlackBerry Limited provides wireless communications solutions worldwide. The company offers BlackBerry wireless solutions, which comprise the sale of BlackBerry handheld devices; and the provision of data communication, and compression and security infrastructure services enabling BlackBerry handheld wireless devices to send and receive wireless messages and data.
Finally, Phillips 66 (NYSE:PSX), ended its last trade with -1.24% loss, and closed at $47.88.
Phillips 66 and Spectra Energy (SE), 50/50 joint venture owners in DCP Midstream, LLC, have reached a nonbinding letter of intent for contributing assets to strengthen DCP Midstream. This transaction is predictable to provide DCP Midstream with a stronger balance sheet and raised financial flexibility, and positions DCP to grow through commodity price cycles.
Spectra Energy has agreed to contribute its ownership interest in both the Sand Hills and Southern Hills NGL pipelines. Phillips 66 has agreed to contribute $1.5 billion in cash, which is predictable to be used to pay down a portion of the DCP Midstream revolving credit facility. The transaction, anticipated to close in the fourth quarter of this year, is subject to the parties entering into a definitive agreement and customary consents, counting approval by Spectra Energy Partners’ board of directors and regulatory approvals.
The projected transaction complements efforts at DCP Midstream to reduce operating costs, sell certain non-core assets, and convert certain contracts from commodity price sensitive to fee-based.
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks to its refineries and other locations; and delivers refined and specialty products, in addition to provides storage services for crude oil and petroleum products.
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