The Canada-based BlackBerry Limited, which now focuses on mobile-native software and services, announced the acquisition of the California-based cybersecurity startup CYLANCE in an all-cash deal worth $1.4 Bn.
CYLANCE is an endpoint protection platform designed to prevent advanced threats using artificial intelligence (AI). It applies AI, algorithmic science, and machine learning to cybersecurity software in order to predict and/or prevent known and unknown threats to fixed endpoints.
Adding CYLANCE’s technology platform as a separate business unit within BlackBerry will complement BlackBerry’s current UEM (Unified Endpoint Manager) platform and QNX (Unix-like real-time operating system, aimed primarily at the embedded systems market) business and will help them develop their recently announced Spark platform – a next-generation secure chip-to-edge communications platform designed for autonomous cars. The acquisition will result in BlackBerry being the only company in the market to deliver a comprehensive endpoint cybersecurity platform with strong prediction technology.
“We believe adding Cylance’s capabilities to our trusted advantages in privacy, secure mobility, and embedded systems will make BlackBerry Spark indispensable to realizing the Enterprise of Things”, BlackBerry’s CEO John Chen announced in a press release.
“Our highly-skilled cybersecurity workforce and market leadership in next-generation endpoint solutions will be a perfect fit within BlackBerry, while our customers, teams, and technologies will gain immediate benefits from BlackBerry’s global reach”, said CYLANCE Co-Founder, Chairman, and CEO Stuart McClure.
Pending regulatory approvals and other customary closing conditions, the deal is expected to close prior to the end of February 2019.
