BlackBerry expanded its customer base
BlackBerry’s (BB) Enterprise Software & Services business is the company’s largest segment. The company has gained traction in several regulated industries, driven by its focus on security. In the financial services sector, BlackBerry closed a deal with a global investment bank in the second quarter of fiscal 2019.
BlackBerry expanded its product footprint with existing customers such as Lloyds Bank in the United Kingdom and KfW in Germany (EWG). The United States Department of Veterans Affairs chose BlackBerry for a multiyear FedRAMP (Federal Risk and Authorization Management Program) cloud license. There are more than 1.0 million BlackBerry FedRAMP cloud users.
During the company’s earnings call on September 28, BlackBerry CEO John Chen stated, “In Canada, we also expanded our footprint with repeat orders and helping the Canadian government monitoring the entire mobility environment and detect issues before they impact a user base of about 100,000 employees.”
In the second quarter of fiscal 2019, BlackBerry expanded its channel network and entered into a multiyear reseller agreement with AT&T (T). This agreement is expected to help BlackBerry leverage AT&T’s expansive customer base.
Total EMM opportunity expected to rise to $3.38 billion in 2021
BlackBerry’s EMM (Enterprise Mobility Management) revenues are estimated to grow from $1.86 billion in 2017 to $3.38 billion in 2021, as estimated by the Radicati Group. The company recently announced BlackBerry Spark, which is an Enterprise of Things platform.
BlackBerry is optimistic about its expertise in EMM. The company expects the IoT (Internet of Things) installed base to grow to $75.0 billion in 2025, with the enterprise sector accounting for a substantial portion of these revenues.