Canadian Tire (TSX:CTC.A), a stock that has held up very nicely by the way, announced this morning they will be using Blackberry 10 devices as their official smartphone for corporate team members across Canada. This includes employees under all of its banners – Canadian Tire, Financial Services, Mark’s and FGL Sports (ie. Sport Chek).
This announcement represents a solid endorsement for Blackberry (TSX:BB,NASDAQ:BBRY) by one of Canada’s largest retailers.
The Blackberry deal appears to be part of greater strategy for Canadian Tire to get more tech-savy. In March the retailer announced a partnership with a Waterloo based incubator named Communitech. The move was expected to result in a digital content hub on its website as well as a rollout of 5,000 tablet devices to its stores for customers to look up products and information. Perhaps this technology move will involve a deeper relationship with Blackberry at some point?
Blackberry’s stock, which had spent most of the morning in the red, is now flashing green on the back of this release.
Good news, eh!
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Fool contributor Iain Butler doesn’t own shares of any of the companies mentioned. The Motley Fool has no positions in the stocks mentioned above.