- BlackBerry announced Wednesday that it acquired Encription, a United Kingdom-based cybersecurity consulting firm.
- The once-prominent smartphone maker has worked to shift its business strategy as demand for its phones plummeted in recent years.
- Globally, the market for cybersecurity consulting is worth an estimated $16.5 billion a year, according to Reuters.
BlackBerry has made a number of software and services acquisitions over the last year, most of which have been cybersecurity focused. In September, the company bought rival Good Technology for $425 million.
BlackBerry's phones were the business phone of choice until other smartphones, like Apple's iPhone, came along to dominate the market. Since then, the company has been attempting to reinvent itself. But BlackBerry still appears to be struggling. Earlier this month, the company announced plans to cut 200 jobs at its headquarters in Ontario and in Florida.
Approximately 40 cybersecurity professionals come with the acquisition, which will allow BlackBerry to offer its clients cyber risk analysis and threat mitigation services.