BlackBerry completes billion-dollar cybersecurity security deal. Cylance takeover sees RIM (Research in motion) become billion-dollar cybersecurity firm.
The company currently has around 3,500 active enterprise customers, including more than 20 per cent of the Fortune 500, giving BlackBerry access to more top-end organisations across the business world. The company has continued its growth as one of the leading global tech firms with the landmark takeover of AI security firm Cylance.
“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.”
said John Chen, Executive Chairman and CEO of BlackBerry.
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 completes billion-dollar cybersecurity security deal
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.”
“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 Black Berry’s mobility and security strengths to adapt our advanced AI technology to deliver a single platform.” said Stuart McClure, Co-Founder, Chairman, and CEO of Cylance.