On Friday, Blackberry announced its plans to acquire Cylance on Friday for $1.4 billion in cash to help expand its QNX unit, which makes software for next-generation autonomous cars.
According to Blackberry, “Cylance will operate as a separate business unit within BlackBerry Limited”. This deal is expected to close by February 2019.
Describing the Cylance acquisition, BlackBerry CEO John Chen said, “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. 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.”
Technology from Cylance will be leveraged in critical areas of Blackberry’s Spark Platform. This Spark Platform is a next-generation secure chip-to-edge communications platform for the EoT (Enterprise of Things) that will create and leverage trusted connections between any endpoint. It enables organizations to comply with stringent multi-national regulatory requirements.
Cylance’s CEO Stuart McClure, said, “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. We are eager to leverage BlackBerry’s mobility and security strengths to adapt our advanced AI technology to deliver a single platform.”
To know more about this acquisition head over to the official press release.