BlackBerry to buy cybersecurity company Cylance for $1.4 billion US

Doris Richards
November 18, 2018

Blackberry, the Canadian technology company that once was a giant in the mobile phone market, announced Friday that it is buying American cybersecurity company Cylance in a $1.4 billion cash deal.

BlackBerry plans on integrating Cylance's technology with its Spark platform, providing security not just for enterprises, but for the emerging market for the internet of things (IoT).

"Cylance's leadership in artificial intelligence and cybersecurity will immediately complement our entire portfolio, UEM [Unified Endpoint Management] and QNX in particular. We are very excited to onboard their team and leverage our newly combined expertise", said John Chen, BlackBerry CEO. Blackberry believes that the acquired capabilities from Cylance will strengthen their position in the enterprise market, specifically providing better security and privacy across their platform. Blackberry cites that: "Cylance is a pioneer in applying artificial intelligence, algorithmic science, and machine learning to cybersecurity software that has proven highly effective at predicting and preventing known and unknown threats to fixed endpoints".

The California-based company's chief executive Stuart McClure, in turn, said it would be able to leverage Blackberry's strength in mobile communications and security to adapt its AI technology. According to BlackBerry, Cylance's technology will complete BlackBerry's Spark vision with AI and next-generation endpoint cyber-security talent and capabilities.


BlackBerry has been undergoing a disruptive transition in recent years as its smartphone business faced increasing pressure from Google Android and Apple iOS.

The deal, which is pending regulator approvals but is expected to close by the end of February 2019, will also involve BlackBerry assuming Cylance's unvested employee incentives. BlackBerry Spark enables organizations to comply with stringent multi-national regulatory requirements.

Cylance is a company in the cybersecurity and artificial intelligence business, having 3,500 active customers which they claim include more than 20% of the Fortune 500. The call can be accessed by dialing (866) 393-4306 and providing Conference ID #2284588, or live streamed on the company's website at http://ca.blackberry.com/company/investors/events.html.

Other reports by Iphone Fresh

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