BlackBerry intends to make Cylance a separate business unit within the company, and sees its capabilities and technologies as being complementary to its existing businesses, especially unified endpoint management, the QNX automotive software platform, and the BlackBerry Spark "Enterprise of Things" platform.
“Our highly skilled cyber security workforce and market leadership in next-generation endpoint solutions will be a perfect fit within BlackBerry where our customers, teams and technologies will gain immediate benefits from BlackBerry’s global reach,” said Cylance co-founder, chairman and chief executive, Stuart McClure (pictured).
“We are eager to leverage BlackBerry’s mobility and security strengths to adapt our advanced AI technology to deliver a single platform.”
“We believe adding Cylance’s capabilities to our trusted advantages in privacy, secure mobility, and embedded systems will make BlackBerry Spark indispensable to realising the Enterprise of Things.”
In addition to the US$1.4 billion cash payment, BlackBerry will take on responsibility for unvested incentive awards made to Cylance employees. BlackBerry's net cash balance as of August 2018 was US$1.7 billion.
The deal is expected to close by February 2019.