A report by MarketsandMarkets published last year, “Bring-your-own-device (BYOD), Consumerimization of IT (Co-IT) and Enterprise Mobility Market – Global Advancements, Business Models, Market Forecasts & Analysis (2012 -2017)” estimates the BYOD and Enterprise Mobility market to grow 15% annually from $67.21 billion in 2011 to $181.39 billion by 2017. In 2011, North America accounted for $24.26 billion of this market. It is projected to grow 13% annually to reach $58.60 billion by 2017.
Good Technology’s Offerings
Sunnyvale, California–based Good Technology was founded in 1996 to build an MP3 attachment for Handspring’s Visor personal digital assistant series. In a few years, they began to build software for BlackBerry devices. Good Technology was bought over by Motorola in 2007 for $438 million. But two years on, Motorola sold the company to mobile software developer Visto Corporation, which renamed itself Good Technology.
Since then, Good has moved to the mobile device management (MDM) market, and now its offerings include secure app-to-app workflows for organizations’ email, communications, document management, business intelligence, social business, wireless printing, and other day-to-day needs.
The product Good for Enterprise delivers secure mobile communication to both enterprises and government organizations while allowing employees to connect and collaborate on their devices. Through Good Dynamics, companies, ISVs and developers are able to build a secure mobile platform for corporate and third-party developed mobile business apps. To enable collaboration, Good offers Good Share, a tool that allows employees to access, sync and share SharePoint documents without firewall reconfiguration and Good Connect, an enterprise instant message service. In addition, the company also offers several security platforms, including Good Trust for identity and access management, Good Vault for two-factor authentication, and BoxTone to ensure secure access from mobile devices.
Through the use of these tools, an organization is able to keep its employees productive using mobile devices while ensuring that corporate and personal data is kept secure and accessible. Today, the company’s customer list includes more than 4,000 organizations in 90 countries. It has 50 of the Fortune 100 on its customer list. Partners include Apple, Google, LG, HTC, Microsoft, Nokia and other systems integrators.
Good Technology’s Financials
Good earns revenues through a subscription and a one-time license charge it levies for its tools and support services. Financials are not publicly known, but analysts estimate that it was operating at an annual revenue rate of $25 million in 2009 and would have grown to $100 million a year last year.
Good is now preparing for an IPO and has hired Morgan Stanley, Barclays, Bank of America, and Citigroup for the round. Analysts peg Good’s valuation at over $1 billion. It has not yet defined a timeline for its IPO.