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BlackBerry (BB) & Deloitte to Secure Software Supply Chains

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BlackBerry Limited (BB - Free Report) has partnered with Deloitte to help original equipment manufacturers (OEMs) and those building mission-critical applications secure their software supply chains.

Headquartered in London, Deloitte provides audit and assurance, consulting, risk and financial advisory, and tax services to clients from multiple industries. Deloitte LLP, an Ontario limited liability partnership, is the Canada-based member firm of Deloitte Touche Tohmatsu Limited.

Per the deal, Deloitte will use BlackBerry’s software composition analysis tool, BlackBerry Jarvis, to provide Open-source Software, Common Vulnerabilities and Exposures, and Software Bill of Materials analysis for its clients across the medical, automotive, and aerospace industries.

Built to address the growing cybersecurity threats among multi-tiered software supply chains, BlackBerry Jarvis allows OEMs to inspect the origin of their code and every software asset that comes into their supply chains. This ensures that their end products are secure and updated with the latest security patches.

BlackBerry is witnessing strong pipeline growth for its unified endpoint security products. Its shares have rallied 102.9% in the past year compared with the industry’s growth of 29%.

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BlackBerry Jarvis addresses the need to fix vulnerabilities by identifying them and providing deep actionable insights. The companies’ joint software and services offering has been selected by a G7 Transportation Ministry to ensure the security of its traffic management and transportation infrastructure.

The partnership is aimed at helping OEMs and those responsible for critical infrastructure better understand their embedded systems security challenges. The already productive relationship will focus on key mobility and other market opportunities.

BlackBerry’s security expertise coupled with Deloitte’s Risk Advisory teams will create an undeniable value proposition for clients. Equipment manufacturers will now have actionable intelligence to address security vulnerabilities in their software supply chains.

Based in Waterloo, Canada, BlackBerry provides intelligent security software and services to enterprises and governments worldwide. It secures more than 500 million endpoints including 195 million vehicles. BlackBerry QNX is the market leader for safety-certified embedded software in automotive.

The company continues to invest in product development and go-to-market strategy to drive long-term sustainable growth. Despite headwinds related to the global chip shortage, it is witnessing significant demand for cybersecurity and IoT software products.

The stock currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the industry are Progress Software Corporation (PRGS - Free Report) , Microsoft Corporation (MSFT - Free Report) , and Adobe Inc. (ADBE - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Progress Software delivered a trailing four-quarter earnings surprise of 25.2%, on average.

Microsoft pulled off a trailing four-quarter earnings surprise of 16.9%, on average.

Adobe delivered a trailing four-quarter earnings surprise of 7.5%, on average.