Monday, 19 November 2018 10:14

BlackBerry to acquire Cylance for US$1.4 billion

By
Cylance co-founder, chairman and CEO Stuart McClure Cylance co-founder, chairman and CEO Stuart McClure

Security vendor BlackBerry has agreed to purchase Cylance — which focuses on the application of AI to cyber security — for US$1.4 billion.

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.”

BlackBerry executive chairman and chief executive, John Chen, said “Cylance’s leadership in artificial intelligence and cyber security will immediately complement our entire portfolio, UEM and QNX in particular. We are very excited to onboard their team and leverage our newly combined expertise.

“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.


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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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