Emerging Technology

BlackBerry Limited (NYSE: BB; TSX: BB) today announced the establishment of the BlackBerry IVY Innovation Fund to help data-driven automotive ecosystem providers turbocharge their innovation and bring new products and applications to market using BlackBerry's Intelligent Vehicle Data Platform, BlackBerry IVY™.

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

Announced in December 2020 as part of a multi-year, global agreement with Amazon Web Services, Inc. (AWS), BlackBerry IVY is a scalable, cloud-connected software platform that will allow automakers to provide a consistent and secure way to read vehicle sensor data, normalize it, and create actionable insights from that data both locally in the vehicle and in the cloud.  Automakers can use this information to create responsive in-vehicle services that enhance driver and passenger experiences.

The BlackBerry IVY Innovation Fund's mission is to accelerate the expansion of the BlackBerry IVY ecosystem with innovative transportation solutions. The Fund will initially allocate up to $50 million to invest in startups focused on developing data-driven solutions that can benefit from BlackBerry IVY's AI insights and support from BlackBerry and AWS.

The BlackBerry IVY Innovation Fund will provide portfolio companies with access to BlackBerry's strong automotive and cybersecurity domain expertise. They will also have access to up to $100,000 in AWS credits through AWS Activate , a program that has helped hundreds of thousands of early stage startups accelerate their growth and development. This includes access to the Activate Console, a self-service platform that connects startups to insights, technical guidance, and more to help them build their businesses.

The BlackBerry IVY Innovation Fund underscores BlackBerry's commitment to developing the BlackBerry IVY ecosystem to allow OEMs, smart mobility providers, fleet operators, and developers alike to leverage the rich insights from the next generation of intelligent connected vehicles.

"The connected vehicle market is evolving with a tremendous rate of innovation. BlackBerry IVY has the potential to play a pivotal role in enabling a rich ecosystem of solutions that improve and enhance driver and passenger experiences and ultimately revolutionize the way we get from A to B," said Vito Giallorenzo , SVP Corporate Development & Strategic Partnerships, BlackBerry. "The BlackBerry IVY Innovation Fund will be a powerful tool to enable both established and startup partners to benefit from BlackBerry IVY's powerful data insights and help us drive advancements across the entire transportation industry."

"BlackBerry IVY is reinventing the automotive customer experience by transforming vehicles from fixed pieces of technology into systems that grow and adapt with a user's needs," said Sarah Cooper , General Manager of Outcome Driven Engineering at Amazon Web Services. "The BlackBerry IVY Innovation Fund is an important step in creating the community of developers and inspiring the ingenuity from startups that will drive innovation forward."

To find out more about BlackBerry IVY, or to inquire about the BlackBerry IVY Innovation Fund, visit https://www.blackberry.com/us/en/products/automotive/blackberry-ivy/innovation-fund .

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 175M cars on the road today.  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.

BlackBerry. Intelligent Security. Everywhere.

For more information, visit BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BLACKBERRY and EMBLEM Design are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.

Media Contact:
BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@BlackBerry.com

Cision View original content to download multimedia: http://www.prnewswire.com/news-releases/blackberry-launches-blackberry-ivy-innovation-fund-to-drive-future-of-transportation-301255720.html

SOURCE BlackBerry Limited

News Provided by PR Newswire via QuoteMedia

Sierra Wireless Reports Second Quarter 2022 Results

Revenue in Q2'22 was $188.0 million and Adjusted EBITDA was $22.4 million

Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) reported results for its second quarter of 2022. All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles ("U.S. GAAP" or "GAAP"), except as otherwise indicated below. 1

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

BlackBerry Cyber Insurance Study Reveals Businesses Hope for Greater Assistance in Paying Ransomware Demands

Eighty-one percent of respondents had a coverage limit under $600,000 below last year's median ransomware demand

WATERLOO, ON , Aug. 10, 2022 /PRNewswire/ -- BlackBerry Limited (NYSE: BB) (TSX: BB) and Corvus Insurance today released the BlackBerry Cyber Insurance Coverage study, showing businesses are increasingly concerned about how they will meet ransomware demands. Only 19 percent of those surveyed have ransomware coverage limits above $600,000 , while over half (59 percent) hoped the government would cover damages when future attacks are linked to other nation-states.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

BlackBerry Cyber Insurance Study Reveals Businesses Hope for Greater Assistance in Paying Ransomware Demands

Eighty-one percent of respondents had a coverage limit under $600,000 below last year's median ransomware demand

WATERLOO, ON , Aug. 10, 2022 /PRNewswire/ -- BlackBerry Limited (NYSE: BB) (TSX: BB) and Corvus Insurance today released the BlackBerry Cyber Insurance Coverage study, showing businesses are increasingly concerned about how they will meet ransomware demands. Only 19 percent of those surveyed have ransomware coverage limits above $600,000 , while over half (59 percent) hoped the government would cover damages when future attacks are linked to other nation-states.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Semtech Corporation to Acquire Sierra Wireless

Creating a comprehensive IoT platform to enable the transformation to a smarter, more sustainable planet

  • Brings together the ultra-low power benefits of LoRa® with higher bandwidth capabilities of cellular for easy to use, interoperable solutions that enable innovation and growth for IoT globally
  • Expected to approximately double Semtech annual revenue and add greater than US$100 million of high margin IoT Cloud services recurring revenues
  • Expected to expand Semtech's IoT SAM by approximately 10x to US$10 billion by 2027
  • Expected to be immediately accretive to Semtech's non-GAAP EPS before synergies and generate US$40 million of run-rate operational synergies within 12-18 months post-close

Semtech Corporation (Nasdaq: SMTC), a leading global supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms, and Sierra Wireless, Inc. (Nasdaq: SWIR) (TSX: SW), a world-renowned Internet of Things (IoT) solutions provider, today announced a definitive agreement under which Semtech will acquire all outstanding shares of Sierra Wireless for US$31 per share in an all-cash transaction representing a total enterprise value of approximately US$1.2 billion, subject to customary closing conditions. The acquisition will significantly expand Semtech's addressable market and is expected to approximately double Semtech's annual revenue and create a strong and diverse portfolio of connectivity solutions for the growing IoT market, making it easier for customers to find innovative end to end solutions for any segment. The deal is also expected to be immediately accretive to Semtech's non-GAAP EPS before synergies and generate US$40 million of run-rate operational synergies within 12-18 months post-transaction close.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Sierra Wireless Announces Preliminary Second Quarter 2022 Financial Results

Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) today reported preliminary financial results for its second quarter of 2022. All results are reported in U.S. dollars and are prepared in accordance with the United States generally accepted accounting principles ("GAAP"), except as otherwise indicated below.

For the second quarter of 2022, preliminary revenues are expected to be between $185 million and $189 million. Adjusted EBITDA* is expected to be between $21 million and $23 million, as compared to first quarter 2022 adjusted EBITDA* of $15.8 million.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Sierra Wireless Confirms Discussions Regarding a Potential Transaction with Semtech

Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) today confirmed that it has engaged in advanced discussions regarding a potential transaction with Semtech Corporation (NASDAQ: SMTC) at a price of US$31 per share.

No assurance can be given that the Company will determine to continue such discussions or enter into any definitive agreement regarding any transaction or, if executed, whether any such transaction would be consummated. The Company does not intend to make any further press release or announcement regarding these matters unless and until it enters into a binding, definitive agreement with respect thereto.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×