Technology Arctic Wolf and BlackBerry Announce Acquisition Agreement for Cylance

[Gandalf_The_Grey]

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https://www.blackberry.com/us/en/company/newsroom/press-releases/2024/arctic-wolf-and-blackberry-announce-acquisition-agreement-for-cylance

Arctic Wolf and BlackBerry Limited two global leaders in security software and services, today announced they have entered into a definitive agreement for Arctic Wolf to acquire BlackBerry’s Cylance endpoint security assets. Cylance is the pioneer of AI-based endpoint protection trusted by thousands of organizations around the world. With this acquisition, Arctic Wolf ushers in a new era of simplicity, flexibility, and outcomes to the endpoint security market, delivering the security operations results customers have been asking for.

Under the terms of the agreement, BlackBerry will sell its Cylance assets to Arctic Wolf for $160 million of cash, subject to certain adjustments, and approximately 5.5 million common shares of Arctic Wolf. After allowing for the purchase price adjustments, BlackBerry will receive approximately $80 million of cash at closing and approximately $40 million of cash one year following the closing.

The proposed transaction is subject to customary closing conditions and is expected to close in BlackBerry’s fourth fiscal quarter.

Arctic Wolf and BlackBerry Announce Acquisition Agreement for Cylance

WATERLOO, ONTARIO and EDEN PRAIRIE, MINNESOTA – December 16, 2024 – Arctic Wolf® and BlackBerry Limited (NYSE: BB; TSX:BB), two global leaders in security software and services, today announced they have entered into a definitive agreement for Arctic Wolf to acquire BlackBerry’s Cylance®...

www.blackberry.com

Arctic Wolf and BlackBerry Announce Acquisition Agreement for Cylance - Arctic Wolf

Arctic Wolf to enhance its Security Operations Aurora Platform with best-in-class endpoint prevention, detection, and response WATERLOO, ONTARIO and EDEN PRAIRIE, MINNESOTA – December 16, 2024 – Arctic Wolf® and BlackBerry Limited (NYSE: BB; TSX:BB), two global leaders in security software and...

arcticwolf.com

 

[oldschool]

BlackBerry's ambition to mix infosec and the Internet of Things has been squeezed, after the Canadian firm announced it is offloading Cylance's endpoint security products.
The erstwhile handset champ acquired Cyclance in 2018 for $1.4 billion – at the time its largest-ever acquisition. Then-CEO John Chen hailed the purchase as complementary to BlackBerry's endpoint management and QNX embedded OS businesses.
"We believe adding Cylance's capabilities to our trusted advantages in privacy, secure mobility, and embedded systems will make BlackBerry … indispensable to realizing the Enterprise of Things," he enthused.
It looks like Chen was wrong, as on Tuesday BlackBerry announced it has sold Cylance for $160 million – a substantial loss, and one compounded by the fact that the brand's overall revenue has gone backwards since the acquisition.

BlackBerry sells some of Cylance to Arctic Wolf

Fresh attempt to mix the perfect cocktail of IoT and Infosec

www.theregister.com