Blackberry has decided to acquire Cylance Inc, a cyber security company, for $ 1.5 billion, Business Insider reported on Friday.
Cylance, based in Irvine, Calif., Has developed an artificial intelligence (AI) -based product to block cyber attacks and is considering an IPO application recently, the report said. The company recently raised about $ 327 million in venture capital. The start-up is estimated to cost $ 3 billion, competing with cyber security companies like CrowdStrike.
When the deal was announced next week, Business Insider quoted a source who warned that the deal could still be confusing.
After completing its hardware business, BlackBerry has been focusing on security and software products. Earlier this year, BlackBerry partnered with Microsoft to provide security for productivity applications in mobile phones.
"We knew that customers needed a very secure way to use the basic Office 365 mobile application," said Blackberry Enterprise BRIDGE, It is an example of how labor productivity can maintain high productivity. "
(HT correspondent has opinion)
First published: November 11, 2018 at 15:39 IST