BlackBerry Limited
BB
has joined forces with a leading China-based connected car company PATEO to incorporate its avant-garde BlackBerry IVY platform into the latter’s intelligent Digital Cockpit solution. The incorporation will help the companies in delivering Service-Oriented Architecture solutions.
The latest move underscores BlackBerry’s commitment to introduce connected vehicle solutions that will not only nurture developers and automakers to grow their businesses but also leverage effective data insights to redefine the transportation industry dynamics.
Founded in 2009, PATEO primarily specializes in artificial intelligence to offer innovative automotive solutions. This Shanghai-based company reportedly introduced more than 30 innovations in domestic markets and overseas.
Some of its offerings are Smart Cluster and iVoka. The company seeks to set up a harmonious ecosystem that enables to produce new-age, competitive solutions so as to create value for customers and partners while tapping lucrative business opportunities.
In December 2020, BlackBerry and AWS — Amazon’s subsidiary — inked a multi-year global agreement for the development of a secure and intelligent connected vehicle software platform for in-vehicle applications, namely BlackBerry IVY.
The scalable, cloud-connected software platform is specifically designed to integrate the BlackBerry QNX real-time operating system into AWS’ IoT services in the cloud and in the car to develop a comprehensive edge-to-cloud offering for diversified car brands.
The platform enables automakers to enhance operations of connected vehicles with BlackBerry QNX and AWS technology, thereby creating customized driver and passenger experiences. BlackBerry and PATEO will collaborate with an anonymous China-based automobile manufacturer, as part of the recent agreement.
The companies will then conduct a pilot project on the automaker’s all-electric model lineup, wherein the BlackBerry IVY-PATEO vehicle pilot will integrate Electra Vehicles’ AI/ML software — EVE-Ai360° Adaptive Controls. The incorporation comes as a boon, especially at a time when the majority of the automotive manufacturers are unlocking the vast potential of the market across the entire OEM value chain.
BlackBerry IVY and PATEO’s intelligent Digital Cockpit solution will facilitate automakers to develop data-driven in-vehicle services and tap new business opportunities in the China market. Thanks to this strategic alliance, the companies will be able to organically amalgamate marketing operations with design research and development to offer products and services that will help enhance customer experiences while unleashing the capabilities of next-gen intelligent connected vehicles.
Moving forward, BlackBerry intends to drive healthy revenue growth and increase market share in the industry vertical. With a holistic growth model focusing on organic and inorganic initiatives, the company continues to invest in product development and the go-to-market strategy. Riding on such dynamic business fundamentals, BlackBerry appears well prepared to drive long-term sustainable growth, thereby instilling optimism among investors.
BlackBerry currently carries a Zacks Rank #2 (Buy). The Waterloo, Ontario-based company’s shares have returned 24.3% compared with the
industry
’s growth of 32.4% in the past year. You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
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salesforce.com, inc.
CRM
is a better-ranked stock in the industry, sporting a Zacks Rank #1 at present. The Zacks Consensus Estimate for its current-year earnings has been revised 6.4% upward over the past 60 days.
salesforce.com delivered a trailing four-quarter earnings surprise of 44.2%, on average. It has returned 4.4% in the past year. CRM has a long-term earnings growth expectation of 16.8%.
Magic Software Enterprises Ltd.
MGIC
, which is another solid pick for investors, carries a Zacks Rank #2. The consensus estimate for earnings for the current-year has been revised 2.3% upward over the past 60 days.
Magic Software Enterprises delivered a trailing four-quarter earnings surprise of 9.8%, on average. The stock has gained 40.6% in the past year.
Microsoft Corporation
MSFT
also has a Zacks Rank #2 at present. The consensus estimate for current-year earnings has been revised 0.1% upward over the past 60 days.
Microsoft delivered a trailing four-quarter earnings surprise of 14.8%, on average. The stock has rallied 44.9% in the past year. MSFT has a long-term earnings growth expectation of 12%.
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