During the negotiations BlackBerry Ltd buys cybersecurity company Cylance Inc. for $ 1.5 billion, Business Insider reported on Friday, citing sources familiar with this issue.
According to the report, Cilance, a company located in Irivine, California, is developing AI products to prevent cyber-attacks by businesses and has recently considered IPOs. Recently the company has invested about 327 million euros in venture capital. The start is competing with cyber security companies like CrowdStrike, which is estimated at $ 3 billion.
The deal was announced as soon as next week, Business Insider reported citing sources that warned that the deal could continue.
At the end of the hardware business, BlackBerry focuses on security and software products. This year, BlackBerry has partnered with Microsoft to deliver smartphone productivity.
"We saw the need for a hyper-secure method to enable our customers to use the local Office 365 mobile applications. The BlackBerry Enterprise BRIDGE solves this and is an example of how BlackBerry and Microsoft are continuing to make sure that the workforce is highly productive in the connected world. "said Carl Wiese, president of BlackBerry Global Sales.
(With information from HT correspondent)
First published: 11.11.2018. 15:39 IST