BlackBerry to acquire Cylance for US $1.4 billion in cash
BlackBerry has announced its entering into a definitive agreement to wholly acquire Cylance for US $1.4 billion in cash, plus the assumption of unvested employee incentive awards. Pending regulatory approvals and other customary closing conditions, the deal is expected to close prior to the end of BlackBerry’s current fiscal year (February 2019). John Chen, Executive Chairman and CEO of BlackBerry, says, “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 realizing the Enterprise of Things.” Cylance is a pioneer in applying artificial intelligence, algorithmic science, and machine learning to cyber security software that has proven highly