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BlackBerry Unit Working On Autonomous Cars; Stock Reacting To News

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BlackBerry Unit Working On Autonomous Cars; Stock Reacting To News

Blackberry Ltd (NASDAQ: BBRY)'s stock was up Tuesday after the company entered the semi-autonomous car space.

Luxoft Holding Inc (NYSE: LXFT), a software development services and innovative IT solutions provider, and Blackberry's subsidiary, QNX Software Systems Limited, announced the new technology collaboration. The partnership involves focusing on ADAS systems used by automotive original equipment manufacturers (OEMs) and Tier 1 suppliers.

Blackberry was trading higher by 4.76 percent or $0.36 per share at $7.87. Luxoft shares rose 2.8 percent to $78.65.

Luxoft has key requirements for ADAS systems to perform high levels of automation.

"Luxoft has a broad portfolio of technologies well-suited to help automotive OEMs and Tier 1s as they progress from discrete ADAS implementations to more integrated solutions," stated Andrew Poliak, Global Director of Business Development, QNX Software Systems.

"As part of the initiative, Luxoft will leverage its expertise in road-model-based computer vision algorithms for tracking of objects such as vehicles, pedestrians, building facades and road signs to bring a robust road scene reconstruction engine to the QNX OS platform," the companies commented in a joint press release.

Posted-In: Autonomous CarsNews Intraday Update Movers Tech Best of Benzinga

 

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