BlackBerry shares have soared. The company will start working with Amazon

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BlackBerry shares have soared. The company will start working with Amazon

09.12.2020 News

Shares of BlackBerry jumped sharply on auction on December 1 after the news of a partnership with Amazon Web Service. Together they will develop and sell a service for connected cars – IVY platform.

Stock quotes at the beginning of trading on the New York Stock Exchange (NYSE) rose by 35%.

The company’s first plans to work together were announced in January, when it was announced that they would begin working together on a solution for the security of automotive applications.
The IVY platform reads information from the sensors installed in the cars and creates on the basis of this data analytics about the condition of the vehicle and other parameters. The use of cloud technology allows automakers to provide owners of vehicles in which IVY is installed, such information as road conditions, driving quality or battery condition, if it is an electric car.
Connected vehicles are equipped with intelligent systems and services with Internet access. They are able to exchange information with their owner, other vehicles (V2V technology) or road infrastructure facilities (V2X technology).

The development of the IVY platform will facilitate the emergence of new applications and services for connected cars without compromising the security and confidentiality of data of car owners, said executive chairman and CEO of BlackBerry John Chen.

BlackBerry is the former leader in the smartphone market. They attracted the attention of Amazon Web Service after focusing on creating technology solutions for business security and data integration.

At the premarket on December 2, BlackBerry shares went up by 20% and trading above $ 8.

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