BUZZ-MobileIron jumps after Blackberry buys rival

Fri Sep 4, 2015 1:24pm EDT
 
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** Shares of MobileIron Inc up 4.7 pct despite broad market selloff

** Jump in MobileIron follows Blackberry's announced deal to buy Good Technology for $425 mln

** MobileIron and Good Technology help enterprises securely manage employees' mobile devices

** MobileIron struggling to compete against offerings from larger players Microsoft, SAP, VMware's Airwatch

** Good is in patent litigation against MobileIron

** MobileIron trades at about 1.8x EV/Sales, low compared to Citrix Systems at 2.9x and Palo Alto Networks at 10.3x

** Shares of Mobileiron down 55 pct from June 2014 IPO price of $9