Yes, BlackBerry is selling its AI-powered cybersecurity platform, Cylance.
BlackBerry has entered into an agreement to sell Cylance to Arctic Wolf, a cybersecurity firm that specializes in managed security services. This strategic transaction involves a substantial financial arrangement for BlackBerry.
Key Aspects of the Cylance Sale
The sale of Cylance is structured to provide BlackBerry with a combination of cash and an equity stake in Arctic Wolf, reflecting a strategic move in BlackBerry's portfolio management.
Transaction Details
| Feature | Description |
|---|---|
| Seller | BlackBerry |
| Buyer | Arctic Wolf, a cybersecurity firm focused on managed security services |
| Asset Sold | Cylance, BlackBerry's AI-powered cybersecurity platform |
| Cash Proceeds | $160 million |
| Equity Component | 5.5 million common shares of Arctic Wolf |
This divestiture allows BlackBerry to realize value from its Cylance asset while maintaining potential upside through its shareholding in Arctic Wolf.
