BlackBerry Leaps After Deal With Amazon Cloud Business

BlackBerry  (BB) – Get Report shares surged on Tuesday after the security and software services company signed a multiyear global agreement with Amazon’s  (AMZN) – Get Report cloud business to develop a software platform dedicated to automakers.

Terms weren’t disclosed.

Shares of the Waterloo, Ontario, company at last check jumped 51% to $8.87. Shares of Amazon, the Seattle online-retail and tech giant, were little changed near $3,173.

As part of the deal, BlackBerry and Amazon Web Services will develop and market BlackBerry’s intelligent-vehicle-data platform — called Ivy — to help automakers create in-vehicle services.

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