While all the news about BlackBerry Ltd. (TSX:BB)(NASDAQ:BBRY) of late is about the much-anticipated Priv device that will run Android, some very interesting news was released that could spell greater revenue than any single new device.

BlackBerry is already seen as the de facto go-to company for secure enterprise communications. This week, the company completed the acquisition of Good Technology. What this means is that BlackBerry has gained even more prominence in the enterprise sector.

Let’s take a look at what this means for the enterprise market and BlackBerry.

What this deal means

While at first glance it may seem that this deal results in fewer choices, but the truth is that merging Good Technology into the BlackBerry mix results in more choices—at least in terms of device selection.

Good Technology is well known for its ability to manage devices running iOS and Windows, which complements BlackBerry’s strengths in managing both BB10 and Android devices. The company will now proceed to integrate the software solutions of Good into BlackBerry’s own mix, resulting in one of the most comprehensive suites available for enterprise.

This was echoed by BlackBerry CEO John Chen, who commented on the acquisition being completed: “The Good and BlackBerry solutions are very complementary. Combined, BlackBerry solved one of the biggest challenges for CIOs—to securely manage all types of deployment models for any device operating system platform—whether on premise, or in the cloud.”

The enterprise market is now BlackBerry’s playground

BlackBerry’s hold on the enterprise market will solidify significantly thanks to this acquisition, which can be seen as more of a defensive acquisition than a growth acquisition in some respects. While Good’s overall growth was declining over the past few years, this is a great opportunity for BlackBerry to gain new customers and shore up on some of the lighter areas of the company’s own portfolio.

The combined software suite will offer the broadest compatibility offering of any enterprise EMM vendor, across different deployment models including BYOD, corporate-owned, personal-owned and business-only models. Additionally, the combined companies will not only be the most secure in the market, but will have the greatest number of enterprise productivity applications.

Add this to BlackBerry’s other recent acquisitions, such as WatchDox, which enables secure file sharing and syncing, and AtHoc, which is intended for crisis communications, and you get the most complete, secure, and flexible enterprise solution on the market.

Apart from the software and services synergies that are expected, BlackBerry also expects to realize $160 million in revenue from Good during the first year, making the deal even more lucrative.

BlackBerry currently trades just below $10. Over the past month the stock is up an impressive 17%, which largely reflects the anticipation of the Priv device launch. Year-to-date, however, the stock is down by 23%.

In my opinion, BlackBerry is extremely undervalued and represents a great option for investors who are seeking long-term growth and have an appetite for moderate risk. The company’s finances are much improved, as are the quarterly results, and there is a clear focus on the future revenue streams. The company is proceeding well in terms of a turnaround, with enterprise, devices, and IoT initiatives all looking very promising for the long term.

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Fool contributor Demetris Afxentiou has no position in any stocks mentioned.