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BLACKBERRY LIMITED

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Delayed Toronto Stock Exchange  -  05/27 04:00:00 pm EDT
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BlackBerry and PATEO Announce Strategic Collaboration to Deliver Integrated Digital Cockpit Solution Featuring BlackBerry IVY for the Chinese Market

01/10/2022 | 04:25am EDT

BlackBerry Limited (NYSE: BB; TSX: BB) and PATEO, a leading Internet of Vehicles (IoV) technology service & product provider in China, today announced a strategic collaboration that will see BlackBerry IVY integrated into PATEO's intelligent Digital Cockpit solution to develop data-driven in-vehicle services and drive new business opportunities in the Chinese market.

As part of the agreement, the two companies will work with a leading Chinese automobile manufacturer to set up a pilot project on the automaker's all-electric model lineup. The expanded relationship is built on an existing collaboration between the two sides that leverages BlackBerry QNX technology alongside PATEO's integration expertise to deploy advanced solutions for the Digital Cockpit market in China. BlackBerry IVY will be integrated within PATEO's Digital Cockpit solution to deliver Service-Oriented Architecture (SOA) solutions.

PATEO's partners in China encompass intelligent voice, entertainment / content, vehicle health monitoring, secure payment, cloud technology, etc., all of which provide ample opportunities for the two companies to develop and expand the BlackBerry IVY ecosystem of partner solutions available to Chinese consumers.

The BlackBerry IVY-PATEO vehicle pilot will also incorporate Electra Vehicles, Inc.'s unique AI/ML software, the EVE-Ai 360-degree Adaptive Controls that provides in real time on a continuous basis an accurate prediction of the battery State of Charge (SoC), State of Health (SoH), and projected vehicle Range. Following the successful completion of the project, the Chinese automobile manufacturer will seek to integrate the BlackBerry IVY - PATEO solution along with Electra Vehicles' EVE-Ai Software into its next-generation all-electric model lineup.

'China contributes approximately half of global electric vehicle production and is a fertile ground for rapid automotive innovation and technology leaps. It's a real pleasure to work with one of China's leading automakers to demonstrate a wide-ranging set of innovative solutions that will put the BlackBerry IVY platform through its paces,' said Vito Giallorenzo, SVP Corporate Development & Chief Operating Officer, IoT. 'Additionally, we couldn't be more excited to be teaming up with PATEO as part of the project and know that there's no stronger candidate to unlock the vast potential of the Chinese market, thanks to its extensive relationships across the entire OEM value chain.'

'We have a long history with BlackBerry and have seen first-hand the outstanding performance that BlackBerry QNX technology delivers in terms of safety, security and reliability,' said Ken Ying, Founder & Chairman of PATEO. 'Under our new strategy, we'll fully integrate user needs into innovative design, and organically combine marketing operations with design research and development, to create products and services that bring ultimate experiences to the customer. This collaboration is the first of many new business opportunities we hope to land for BlackBerry IVY as part of our new strategic partnership, and we're thrilled to be taking our relationship to the next level.'

BlackBerry's full suite of automotive offerings including BlackBerry IVY will be demonstrated at the Consumer Electronics Show (CES) in Las Vegas from January 5 - 8, 2022, at the Las Vegas Convention Center. Visit BlackBerry at Booth #4319 in the West Hall.

About BlackBerry

BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including 195M vehicles. Based in Waterloo, Ontario, the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems. BlackBerry's vision is clear - to secure a connected future you can trust.

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2023 690 M - -
Net income 2023 -224 M - -
Net Debt 2023 333 M - -
P/E ratio 2023 -17,0x
Yield 2023 -
Capitalization 3 777 M 3 777 M -
EV / Sales 2023 5,96x
EV / Sales 2024 5,03x
Nbr of Employees 3 325
Free-Float 98,8%
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Number of Analysts 8
Last Close Price 6,54 $
Average target price 6,64 $
Spread / Average Target 1,45%
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Managers and Directors
John S. Chen Executive Chairman & Chief Executive Officer
Steve Rai Chief Financial Officer
Charles Eagan Chief Technology Officer
Christopher Hummel Chief Information Officer
Randall Cook Secretary, Chief Legal, Compliance & Risk Officer
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