BlackBerry buys AI specialist, machine learning Cylance for USD 1.4 bln

News IT Global 16 NOV 2018
BlackBerry buys AI specialist, machine learning Cylance for USD 1.4 bln
BlackBerry has agreed to buy Cylance for USD 1.4 billion in cash, plus unvested employee incentive awards. The US company makes security software and is a specialist in the use of artificial intelligence, algorithmic science and machine learning. The deal is expected to complete by end February, pending the usual closing and regulatory approvals. BlackBerry CEO John Chen said the deal will complement the company’s entire portfolio and strengthen its BlackBerry Spark offering in particular. 

Cylance will after close operate as a separate business unit within BlackBerry. The entire workforce of Cylance is expected to join BlackBerry, with Cylance co-founder and CEO Stuart McClure saying the company will use BlackBerry's mobility and security strengths to adapt its AI technology into a single platform. 

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IT,  Internet,  Mobile

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BlackBerry

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Data services, Corporate strategy

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