Barclays Views Research in Motion's Acquisition Of Viigo As Positive, Sees Upside To FQ1 EstimatesBarclays analysts Jeff Kvaal said that Research in Motion's (NASDAQ:RIMM) strategic acquisition of Viigo enhances the company's software portfolio.
Kvaal said, "Applications play Viigo announced it would be acquired by RIM for an undisclosed and thus not likely massive sum. We consider RIM's push into applications a needed one and thus view the deal as a strategic positive."
Barclays expects RIM to report solid Q4 results and guidance when the company announces earnings on Wednesday. The bank recently lifted their fiscal Q1 sales and EPS estimates to $4.3 billion, vs. consensus estimates of $4.31 billion, and $1.25, vs. consensus estimates of $1.28.
Due to strength at Sprint and continued demand for the Bold 2 and Curve 8520, analysts believe further upside to their fiscal Q1 estimate is possible.