BlackBerry completes billion-dollar security deal
BlackBerry has continued it growth as one of the leading global tech firms with the landmark takeover of AI security firm Cylance.
The former smartphone giant has confirmed that its $1.4bn deal to buy Cylance has gone through, officially making BlackBerry a billion-dollar cybersecurity firm.
Founded in 2015 by former Intel and McAfee staffers, Cylance deploys AI and machine learning-powered security solutions, and counts major Fortune 100 companies among its 4,000 worldwide clients.
BlackBerry will now hope that Cylance’s technology can help it build and grow its BlackBerry Spark service, a secure communications platform that the company is developing for IoT devices, as well as boosting its work in creating secure endpoints.
“Today BlackBerry took a giant step forward toward our goal of being the world’s largest and most trusted AI-cybersecurity company,” said John Chen, Executive Chairman and CEO, BlackBerry.
“Securing endpoints and the data that flows between them is absolutely critical in today’s hyperconnected world. By adding Cylance’s technology to our arsenal of cybersecurity solutions we will help enterprises intelligently connect, protect and build secure endpoints that users can trust.”