On 16th November, BlackBerry Limited declared that it has made the final contract to completely purchase Cylance, a cybersecurity, and an artificial intelligence spearhead, for cash money of US $1.4 billion, along with the supposition of unvested worker incentive awards. Regulatory approvals and further customary closing conditions are pending, the contract is likely to complete by the end of the present financial year (February 2019) of BlackBerry.
“Cylance’s leadership in artificial intelligence and cybersecurity will immediately complement our entire portfolio, UEMand QNX in particular. We are very excited to onboard their team and leverage our newly combined expertise,” John Chen, Executive Chairman and CEO of BlackBerry, claimed. “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.”
In a recent Internet of Things Backbone report, Gartner claims that security is the main barrier to IoT success (35%). Moreover, possible risks and liabilities (25%), and privacy issues (25%) also fall among the top five.
Cylance is an innovator in using algorithmic science, artificial intelligence, and machine learning in cybersecurity software which has shown to be greatly efficient at forecasting and avoiding familiar and unfamiliar threats to fixed endpoints. The company is spreading quickly and is now a market chief with lightweight and an advanced agent that lies on the endpoint, runs both online and off, and needs a minimum of power and memory to work. Created in 2012, Cylance produces very frequent income from more than 3500 active enterprise users, containing over 20% of the Fortune 500.
“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 BlackBerry’s mobility and security strengths to adapt our advanced AI technology to deliver a single platform.”
BlackBerry Spark Platform is the next-gen secure chip-to-edge EoT communications framework that will develop and leverage faithful connections among the endpoints. It will leverage the company’s deep portfolio of tech which comprises of FIPS-validated, AES 256-bit encryption for data protection and app-level. BlackBerry Spark allows firms to obey strict multi-national regulatory requirements. Actually, Blackberry is the alone EoT framework provider to gain Common Criteria EAL4+ for both Android and iOS, presenting top-level security in the marketplace.
BlackBerry hopes that after the long-awaited closing of the deal, Cylance will run as an individual business entity within BlackBerry Limited.