Yahoo Finance BlackBerry (BB) Integrates CylanceGUARD & CEM Powered by AtHoc
BlackBerry Limited BB announced a new integration between its CylanceGUARD Managed Detection and Response and Critical Event Management (CEM) system, which is powered by BlackBerry AtHoc.
Organizations that choose a CylanceGUARD subscription with AtHoc features will gain access to secure, multi-channel internal and stakeholder communications for incident response actions in the event of a cyberattack. They will be able to alert, communicate and collaborate from within the CylanceGUARD platform, even when the regular communications infrastructure is not functioning, added the company.
The company also stated that BlackBerry AtHoc is being used by more than 75% of United States federal government employees for incident response and crisis communication.
BlackBerry Limited Price and Consensus
BlackBerry Limited price-consensus-chart | BlackBerry Limited Quote
The integration with CylanceGUARD will allow users to swiftly initiate incident reaction plans and transmit secure “out-of-band” communications for critical situations, capture real-time information and rapidly deploy secure communication to specified groups. Also, the escalation notifications will include a short description and a link to the escalation in the CylanceGUARD portal.
CylanceGUARD subscription will provide benefits to all organizations with limited IT resources that were previously only available to big, well-resourced entities. It will be available to new and existing CylanceGUARD customers from May 2023.
The growing number of cyber-attacks has become a major issue for many organizations. Recently, Western Digital disclosed a security breach that affected some of its systems. The company reported that on Mar 26, 2023, an unauthorized third party was able to gain access to several of its systems.
The increasing demand for cybersecurity solutions bodes well for BlackBerry. Per a report from Fortune Business Insights, the global cybersecurity market is projected to grow from $155.83 billion in 2022 to $376.32 billion by 2029, representing a CAGR of 13.4%.
Blackberry provides intelligent security software and services to enterprises and governments around the world. It offers devices and software platforms for managing security, mobility and communications among hardware, programs, mobile apps and the Internet of Things.
In December 2022, the company launched Cyber Threat Intelligence, providing its users with professional threat intelligence services to tackle cyber threats.
For fiscal 2024, BlackBerry expects Cybersecurity revenues in the range of $425-$450 million. Cyber business billings growth is expected within 7-20% due to increased uptake of security products. For the first quarter of fiscal 2024, Cybersecurity revenues are expected to increase sequentially and are likely to be in the range of $100-$110 million.
BlackBerry currently has a Zacks Rank #3 (Hold). Shares of the company have lost 33.1% in the past year compared with the sub-industry’s decline of 3.5%.
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Some better-ranked stocks in the broader technology space are Arista Networks ANET, Perion Network PERI and Pegasystems PEGA, each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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