BlackBerry to acquire AI and cybersecurity firm Cylance for $1.4bn

“We are very excited to onboard their team and leverage our newly combined expertise.”
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BlackBerry has announced that it will acquire Cylance, an artificial intelligence and cybersecurity leader, for $1.4 billion.

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.

“Cylance’s leadership in artificial intelligence and cybersecurity 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,” said John Chen, executive chairman and CEO of BlackBerry.

“We believe adding Cylance’s capabilities to our trusted advantages in privacy, secure mobility, and embedded systems will make BlackBerry Spark indispensable to realising the Enterprise of Things.”

According to Gartner in its most recent Internet of Things Backbone Survey: security was cited as the top barrier to IoT success (35%), with privacy concerns (25%), and potential risks and liabilities (25%) also in the top five.

“Our highly skilled cybersecurity workforce and market leadership in next-generation endpoint solutions will be a perfect fit within BlackBerry where our customers, teams and technologies will gain immediate benefits from BlackBerry’s global reach,” said Stuart McClure, co-founder, chairman and CEO of Cylance.

“We are eager to leverage BlackBerry’s mobility and security strengths to adapt our advanced AI technology to deliver a single platform.”

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