BlackBerry acquires WatchDox for $100m

According to WSJ, Mobile phone manufacturer BlackBerry is buying Israeli file-sharing security company WatchDox. The Canadian company did not disclose financial details about the acquisition but sources close to the deal say that the Canadian company will pay $100 million for WatchDox, which has developed a technology to protect files and documents.

Sources inform claim that Blackberry will set up a development center in Israel based on the acquisition of WatchDox, which employs 100 in its Petah Tikva office. BlackBerry is expected to confirm the acquisition in the coming hours.

In December 2012, WatchDox itself acquired Israeli company InstallFree, which provides solutions for access to remote computers.

 BlackBerry acquires WatchDox for $100m BlackBerry acquires WatchDox for $100mBlackBerry executive chairman and CEO John Chen said “BlackBerry is constantly expanding the potential of data security so that it enables more collaboration and sharing rather than creating limitations. This acquisition represents another key step forward as we transition BlackBerry into the premier platform for secure mobile communications software and applications, supporting all devices and operating systems. Together with last year’sSecusmart acquisition, Samsung partnership, our own internal development efforts, and now the acquisition ofWatchDox, we now have capabilities to secure communications end-to-end from voice, text, messaging, data and now enterprise file-sync-and share.”WatchDox serves leading organizations across a variety of industry sectors in which secure collaboration and mobility are essential, including government, healthcare, financial services, manufacturing, law and media.

Source: Globes