WATERLOO, Ontario - BlackBerry (NYSE:BB) Limited (NYSE: BB; TSX: BB) has partnered with Carahsoft Technology Corp. to offer their cybersecurity solutions to state and local governments, K-12 school districts, and higher education institutions through the NASPO ValuePoint contract, the companies announced today.
The NASPO ValuePoint program, known for its rigorous standards in public cooperative contracting, enables participating entities to benefit from competitive pricing and quality services by leveraging the collective purchasing power of public entities across the states.
BlackBerry, a company with a 40-year history and a globally trusted portfolio of government agency solutions, aims to address the digital challenges faced by the public sector. Their suite of cybersecurity products incorporates advanced technologies such as artificial intelligence and machine learning to offer robust protection against cyber threats.
"This new route to market is exciting for both BlackBerry and for the NASPO membership," said Chris Russo, US SLED Sales Director at BlackBerry. The company is enthusiastic about extending its reach within the public sector, helping to secure infrastructure, communications, and personnel.
Brandi Hiebert, Sales Director at Carahsoft, echoed this sentiment, highlighting the collaboration's goal to equip organizations with the necessary tools to address evolving cyber threats. Carahsoft, acting as the Master Government Aggregator®, will work with BlackBerry and their reseller partners to support customers in achieving their cybersecurity objectives.
The availability of BlackBerry's cybersecurity solutions through Carahsoft's NASPO ValuePoint Master Agreement and other contract vehicles is expected to enhance the security posture of public sector organizations.
The company continues to focus on delivering security software and services to enterprises and governments worldwide, leveraging its expertise in AI and machine learning.
This expansion of BlackBerry's public sector availability is based on a press release statement from Carahsoft Technology Corp.
InvestingPro Insights
In the wake of BlackBerry Limited's (NYSE: BB; TSX: BB) new partnership with Carahsoft Technology Corp., it's worth noting the company's current financial position and market sentiment. According to InvestingPro, BlackBerry's market capitalization stands at $1.48 billion, reflecting its status in the industry. Despite challenges, the company has managed a revenue growth of 20.43% over the last twelve months as of Q3 2024, signaling potential in its business operations.
InvestingPro Tips for BlackBerry highlight a high shareholder yield and a moderate level of debt, which could be seen as positive signs for investors considering the company's strategic moves. On the other hand, the stock has experienced a significant downturn, trading near its 52-week low and dropping over 20% in just the last week. Analysts are cautious, not expecting profitability this year, a sentiment echoed by the company's negative price-to-earnings (P/E) ratio of -2.60. BlackBerry does not pay a dividend, which may influence investment decisions for those seeking income in addition to growth.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available that could provide further insights into BlackBerry's financial health and market potential. Using the promo code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable tips.
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