Blackberry 2015 Annual Report Download - page 96

BlackBerry Limited
Notes to the Consolidated Financial Statements
In millions of United States dollars, except share and per share data, and except as otherwise indicated
21
Product Warranty
The change in the Company’s warranty expense and actual warranty experience from March 3, 2012 to February 28,
2015, as well as the accrued warranty obligations, are set forth in the following table:
Accrued warranty obligations as at March 3, 2012 $ 408
Actual warranty experience during fiscal 2013 (474)
Fiscal 2013 warranty provision 392
Adjustments for changes in estimate (8)
Accrued warranty obligations as at March 2, 2013 318
Actual warranty experience during fiscal 2014 (357)
Fiscal 2014 warranty provision 270
Adjustments for changes in estimate (27)
Accrued warranty obligations as at March 1, 2014 204
Actual warranty experience during fiscal 2015 (140)
Fiscal 2015 warranty provision 82
Adjustments for changes in estimate (23)
Accrued warranty obligations as at February 28, 2015 $ 123
7. BUSINESS ACQUISITIONS
Secusmart GmbH
On December 1, 2014, the Company acquired all of the issued and outstanding shares of Secusmart GmbH (“Secusmart”),
a developer of high-security voice and data encryption and anti-eavesdropping solutions, for $82 million in cash and future
contingent consideration with a fair value of $8 million. The acquisition aligns with the Company's strategy of addressing
growing security costs and threats ranging from individual privacy to national security by obtaining leading voice and data
encryption and anti-eavesdropping technologies, and furthers the Company's security capabilities in end-to-end mobile
solutions.
Movirtu Limited
On September 8, 2014, the Company acquired all of the issued and outstanding shares of Movirtu Limited (“Movirtu”), a
virtual SIM solutions company based in the United Kingdom, for $32.5 million of cash consideration (including transaction
expenses of $2 million). The acquisition will provide the basis for a variety of innovative service offerings, including the
WorkLife by BlackBerry solution that allows an enterprise to provision a work phone number and data plan onto a device
with a single standard SIM card.
Other acquisitions
On July 31, 2014, the Company paid $9 million for all of the assets constituting the business of a provider of cloud-based
software technology allowing users to connect devices and build an ecosystem with their data. With this acquisition, the
Company obtained technology closely aligned to its announced BlackBerry Internet of Things platform.
There were no material business acquisitions made by the Company in fiscal 2014.