BlackBerry Limited (NYSE:BB) entered into a multi-year contract with Jaguar Land Rover to develop automotive technology for the latter’s next-generation vehicles. Terms of the agreement remain undisclosed.
Per the agreement, BlackBerry will provide license to Jaguar Land Rover so that the latter can use QNX and Certicom technology of the former. The company will also assign a team of engineers to support the development process of new Electronic Control Unit modules.
Notably, BlackBerry will provide the latest and most dynamic software required to ensure the highest security for the automotive manufacturer’s connected vehicles, thereby enhancing customers’ driving experience.
BlackBerry is an important source of safety-certified, secure and reliable software for the automotive industry.
The company’s lineage in security and innovation has led to a series of automotive deals of late. Notably, in January 2018, the company announced partnership with Baidu Inc. (NASDAQ:BIDU) to help drive the autonomous vehicle revolution. The tie-up is aimed at speeding up the deployment process of connected and autonomous vehicle technology for automotive OEMs (Original Equipment Manufacturer) and suppliers across the world.
In December 2017, the company partnered with Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated (NASDAQ:QCOM) , to collaborate and develop groundbreaking automotive platforms for new-age connected vehicles.
Zacks Rank & Key Pick
BlackBerry carries a Zacks Rank #3 (Hold). A better-ranked stock in the same space is TIM Participacoes S.A. (NYSE:TSU) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of TIM Participacoes have surged more than 30% in a year.
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Baidu, Inc. (BIDU): Free Stock Analysis Report
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