Why BlackBerry Stock Is Soaring This Week

(NYSE: BB) stock is surging higher in this week's trading. According to data from S&P Global Market Intelligence, as of noon ET this Friday, the company's share price was up 9.7% from last week's market close.

BlackBerry's valuation is moving higher following the announcement of the company's QNX division, which specializes in advanced driver-assistance systems (ADAS) software. QNX is teaming up with Pi Square Technologies to accelerate the adoption of its software platform in India.

QNX is offering a free, non-commercial version of its development platform in hopes of making its software a standard in the Internet of Things (IoT) and automotive software industries. By increasing the number of developers familiar with its development tools and standards, the company improves the chances that its software is adopted by businesses. Along those lines, the company has forged a new partnership with Pi Square Technologies.

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Source Fool.com