Palantir Technologies Inc (NYSE: PLTR) and BlackBerry Ltd (NYSE: BB) have each snagged a slew of partnerships over the past year, disrupting the technology space and putting them in the spotlight as true growth companies.
What Happened: Although both companies have been in business for years -- Palantir was founded in 2003, BlackBerry in 1984 — their proprietary technology has become increasingly sought after by numerous companies across many major sectors.
The companies have a lot in common too. Each company's platforms have disrupted the technology space by changing the course of how other businesses operate. The companies they partner with plug their own technology into Palantir and BlackBerry’s platforms and together create systems that are not only user-friendly but also completely safe and secure, something both companies pride themselves on.
Both companies also have a long history with the U.S. government. Through its wholly-owned subsidiary BlackBerry Government Solutions headquartered in Washington D.C., BlackBerry provides an end-to-end software stack that protects the data of nearly every federal department. More than 70% of all federal employees use devices that are protected by BlackBerry’s crisis communication solution.
Similarly, Palantir, a company that has seemed shrouded in secrecy until this year, provides software used by the U.S. Intelligence Community and the Department of Defense for counterterrorism projects. Although never officially confirmed by the company, it is widely reported that Palantir’s data-mining software was used to locate Osama Bin Laden.
Why It Matters: Recently more and more corporations, such as automakers, big tech companies and private organizations, have been jumping on board using BlackBerry and Palantir software. Both companies' software platforms can be used by a single company to assist in secure and safe data analytics, transfers and storage.
The duo also holds partnerships with Amazon.com, Inc. (NASDAQ: AMZN) cloud service platform Amazon Web Services (AWS).
BlackBerry: Although BlackBerry boasts nearly two dozen different products, the three that have made the most news recently are its BlackBerry AtHoc platform and its two QNX products: QNX Hypervisor and QNX Real-time Operating System.
On March 9, BlackBerry announced it had partnered with Chinese automaker Huizhou Desay SV Automotive Co Ltd (SHE: 002920) to create a smart driving experience built on BlackBerry’s proprietary QNX Hypervisor system.
Earlier this year BlackBerry also announced an expanded partnership with Baidu Inc (NASDAQ: BIDU) and with Hyundai Motor Company GDR (OTC: HYMTF) backed Motional, both of which use BlackBerry’s QNX software to power their systems.
Blackberry also holds a partnership with Microsoft Corporation (NASDAQ: MSFT) which uses BlackBerry AtHoc to manage critical events on Microsoft Teams software.
Palantir: The company’s three main products are its Foundry, Gotham and Apollo platforms. On March 11, Palantir announced a six-year partnership with Faurecia, a leading automotive technology company that will use Palantir’s Foundry platform to accelerate its digital transformation.
Palantir has also partnered with mining corporation Rio Tinto plc ADR (NYSE: RIO), N95 mask producer 3M Co (NYSE: MMM) and law firm Akin Gump Strauss Hauer & Feld. All use Palantir’s Foundry platform for data integration.
Why It Matters: The disruptive capabilities of BlackBerry and Palantir have only begun to surface and investors can safely bet on more partnership announcements to come.