BlackBerry Makes $1.4 Billion Acquisition

Cylance logo

CBJ — BlackBerry has signed a US$1.4-billion deal to acquire artificial intelligence and cybersecurity company Cylance.

The acquisition is the largest in BlackBerry’s history.

Cylance is a pioneer in applying artificial intelligence, algorithmic science and machine learning to cybersecurity software. It was founded in 2012 by former McAfee/Intel employees Ryan Permeh and Stuart McClure.

The acquisition helps solidify BlackBerry’s shift away from its past life as a smartphone company to software and security services, including its QNX business, which is focused on the automotive sector.

The finalized transaction is still pending regulator approvals but is expected to close by the end of February 2019. If approved, the California-based Cylance would continue to operate as a separate company.

@CanBizJournal

 

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