Speaking to The Street, John Chen speaks of growing organically, as well as through acquisitions.
How the world has changed. It was only a few short years ago that we were expecting BlackBerry, at that point a struggling phone maker, to be acquired by some larger player. The company has gone through an absolute transformation since CEO John Chen came on board. No longer a struggling phone maker, in fact, not even a phone maker at all, BlackBerry is now a growing software and security company, that is looking to make acquisitions of their own.
As part of todays press junket following BlackBerry’s earnings call, John Chen took a moment to speak to The Street. In this interview, John Chen stated his surprise that the stocks were down, as BlackBerry had actually beat projections. But giving his familiar grin, you could tell that Chen wasn’t too concerned over it. Why would he be concerned? He’s looking to the future, and the growth that the company will see.
Chen explains in the interview that his plans for BlackBerry is to become the lead player in EoT communications. In fact, BlackBerry seems to be the only company on record that is making that a goal, and the amount of new partnerships which BlackBerry has entered shows that they are who other companies are turning to in order to provide these services.
When asked about BlackBerry’s cash reserves of $2.3 billion Chen speaks of growth, both organically buy growing their own services and staff, but also through strategic acquisition. What type of acquisition? Chen states any number of vertical categories, from automotive to A.I. as long as they are strategically aligned with BlackBerry’s core strategy. That core strategy is of course, security and communications. Chen stated that he would like to see this strategy play out soon, possibly within the next year, but he is also clear that there is no rush. We see many companies rush out and leap into new categories. In fact, for a time, it seemed that was precisely what BlackBerry was doing. It is nice to see now that it was all a coordinated strategy, and to know that security and communications are the guiding principles behind BlackBerry business. As they were before in the age of the smartphone, and as they will be going forward in the age of the IoT.
To watch the interview yourself, visit The Street