BlackBerry to Buy Cybersecurity Firm Cylance for $1.4B

BlackBerry (BB) stated on Friday that it will acquire Cylance, an artificial intelligence (AI) and cybersecurity firm, for $1.4 billion, its largest acquisition to date. BlackBerry plans on using Cylance’s capabilities, which uses AI and machine learning to predict and prevent security threats, across its entire portfolio of services, including the QNX unit, which makes software for autonomous vehicles and medical devices. The Canadian tech company also plans on integrating Cylance’s software into its BlackBerry Spark communications platform.

BlackBerry, which was a prevalent force in the smartphone industry a decade ago, has pivoted to selling software for mobile devices as well as focusing on emerging tech such as self-driving vehicles.

“We are eager to leverage BlackBerry’s mobility and security strengths to adapt our advanced AI technology to deliver a single platform, said Stuart McClure, CEO of Cylance.

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