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BlackBerry in talks to buy cybersecurity company Cylance

Just hearing the name brings a wave of nostalgia. This BlackBerry is a different beast from the CityBoy’s favourite handset manufacturer…:

BlackBerry Ltd is in talks to buy cybersecurity company Cylance Inc for as much as $1.5 billion, Business Insider reported on Friday, citing sources familiar with the matter.

Irvine, California-based Cylance develops AI-based products to prevent cyberattacks on companies and recently considered filing for an IPO, according to the report. The company recently raised about $327 million in venture capital. The startup competes with cyber security companies such as CrowdStrike which is estimated to be worth $3 billion.

A deal could be announced as soon as next week, Business Insider reported citing sources, who cautioned the deal could still fall apart.

After exiting the hardware business, BlackBerry has been focusing on its security and software products. Earlier this year, BlackBerry partnered with Microsoft to provide security to its productivity apps on mobile phones.

Original article here

Peter Glock
Over 30 years of designing, building and managing telecoms and IT services. Primarily working with large enterprise and professional services businesses in Asia, North America, continental Europe and the UK. Information security professional, secret physics nerd.

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