"Today BlackBerry took a giant step forward toward our goal of being the world's largest and most trusted AI-cybersecurity company," said BlackBerry executive chairman and chief executive John Chen.
"Securing endpoints and the data that flows between them is absolutely critical in today's hyperconnected world. By adding Cylance's technology to our arsenal of cybersecurity solutions we will help enterprises intelligently connect, protect and build secure endpoints that users can trust."
Cylance co-founder and former chairman and chief executive Stuart McClure is now BlackBerry Cylance's president.
According to the company, McClure will "continue to apply his visionary math-based approach to threat detection, prevention, and response, as well as lead the business' large team of highly-skilled engineers and data scientists that deliver trusted products and services for more than 4,000 companies around the world".
Analyst firm 451 Research's research vice-president Brian Partridge said: "In this deal BlackBerry obtains advanced security technology that it can deploy within its existing platforms while also providing a complementary fit in terms of market vision and customer focus."