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

04.12.2020 News

Shares of BlackBerry jumped sharply on auction on December 1 after the news of a partnership with Amazon Web Service. TechCrunch writes that 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 paper session ended with a 19% increase.

The company’s first cooperation plans were announced in January, when they announced they would start working together on a solution for automotive applications.

The IVY platform reads information from the sensors installed in the cars and creates analytics about the condition of the vehicle and other parameters on the basis of this data. The use of cloud technology allows automakers to provide owners of electric cars with installed IVY such information as road conditions, driving quality or battery condition.

Connected vehicles – vehicles 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 (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 privacy of data of car owners, said CEO of BlackBerry John Chen.

The former leader in the smartphone market, BlackBerry, caught 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 are up 20% and trading above $ 8.

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