BlackBerry Limited has announced it has entered into a definitive agreement to wholly acquire Cylance, an artificial intelligence and cybersecurity. The acquisition was done for US $1.4 billion in cash, plus the assumption of unvested employee incentive awards.
Cylance is a pioneer in applying artificial intelligence, algorithmic science, and machine learning to cybersecurity software that has proven effective at predicting and preventing known and unknown threats to fixed endpoints, and BlackBerry enables the Enterprise of Things by providing the technology that allows endpoints to trust one another, communicate securely, and maintain privacy.
The merger of Cylance with BlackBerry will also add more capacity to QNX technology and help it expand its influence in the automotive industry. It is known that QNX owned by BlackBerry is being used by a number of automotive majors, like Ford Motor Co and Tata Motors’s Jaguar Cars.
BlackBerry expects that after the anticipated close of the transaction, Cylance will operate as a separate business unit within BlackBerry Limited. Pending regulatory approvals and other customary closing conditions, the deal is expected to close prior to the end of BlackBerry’s curret fiscal year (February 2019).