BlackBerry (BBRY) has reached an agreement to acquire enterprise mobility management (EMM) software provider Good Technology for $425 million. The mobile communications company said it expects the Good acquisition to be completed toward the end of its 2016 fiscal third quarter.

What does the agreement mean for managed service providers (MSPs)? Good's technology will integrate with BlackBerry's enterprise portfolio and global network, BlackBerry said, to create a management solution for all mobile devices that protects customers' security and privacy.

"Enterprise customers today demand stringent security and the most flexible platform across all mobility strategies," Good CEO Christy Wyatt said in a prepared statement. "We are excited to join BlackBerry, where together we will be the most comprehensive mobile platform in the market. ... Our trusted Good solutions will also help BlackBerry to accelerate its Internet of Things platform for managing endpoints beyond mobile devices."

In addition, BlackBerry said the Good acquisition will expand its ability to offer cross-platform EMM solutions.

"By acquiring Good, BlackBerry will better solve one of the biggest struggles for CIOs today, especially those in regulated industries: securely managing devices across any platform," BlackBerry CEO John Chen said.

The Good acquisition could help BlackBerry extend its reach in the EMM software market, a sector that is expected to grow over the next few years.

A recent Ovum forecast indicated that the EMM software market could expand at a compound annual growth rate (CAGR) of 29.5 percent between 2014 and 2019 and be worth nearly $10 billion by 2019.