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BlackBerry is all set to buy a privately held German firm, Secusmart, that specializes in voice and data encryption. The company intends to burnish its credentials with highly security-conscious clients like government agencies.
The Waterloo, Ontario-based smartphone maker did not disclose the terms of its deal to acquire Secusmart GmbH, which specializes in encryption and anti-eavesdropping services for governments, companies and telecommunications service providers.
The acquisition is the latest by the smartphone pioneer to reinvent itself under new chief executive John Chen and recover ground ceded to Apple’s iPhone and Samsung Electronics’s Galaxy devices.
Still, BlackBerry shares fell 4% to $9.54 on Nasdaq and C$10.45 on the Toronto Stock Exchange.
Secusmart’s technology is being used to protect the devices of government officials in both Canada and Germany, including the BlackBerry device used by German chancellor Angela Merkel in the wake of the US spying scandal last year.
Secusmart’s technology is also used to secure the landline phones of corporations and government agencies.