[ad_1]
BlackBerry Ltd is in talks to buy cybersecurity firm Cylance Inc. for nearly $ 1.5 billion, Business Insider reported on Friday, citing sources familiar with the matter.
Cylance, based in Irvine, Calif., Is developing AI-based products to prevent cyberattacks against businesses and recently considered filing an IPO, according to the report. The company recently raised approximately $ 327 million in venture capital. The startup competes with cybersecurity companies such as CrowdStrike, valued at $ 3 billion.
An agreement could be announced as early as next week, said Business Insider, citing sources cited, noting that this deal could still collapse.
After leaving the hardware business, BlackBerry focused on its security products and software. Earlier this year, BlackBerry partnered with Microsoft to secure its productivity applications on mobile phones.
"We have seen the need for our customers to have a very secure way of using the Office 365 native mobile applications. BlackBerry Enterprise 'BRIDGE' answers this question and shows how BlackBerry and Microsoft continue to workers to be highly productive in a connected world, "said Carl Wiese, president of Global Sales at BlackBerry.
(With the inputs of the corresponding HT)
First published: Nov. 11, 2018 15:39 IST
Source link
