BlackBerry Ltd is reportedly in talks with cybersecurity company Cylance Inc for a buyout option.
Cylance is currently valued around at as much as $1.5 billion. Cylance is an Artificial Intelligence company based in California specializing in preventing cyber attacks on companies. Cylance’s clients include Panasonic, Phoenix Children’s Hospital, WWE, Apria Healthcare and more than 4,000 customers, including over 20% of the Fortune 500. Cylance reported revenues of $130 million for the fiscal year 2018 and 90% year-over-year growth.
Source- Solutions Review
According to Business Insider, the deal could be announced as early as next week. Blackberry and Cylance officials have not responded to request for comments. It seems like both the companies want to carry out this deal in silence. Cylance had considered filing for an IPO recently which didn’t go through as planned. Business Insider sources have warned that deal could still fail to go through. Maybe that’s the reason they are still hesitant in making any official announcement of their talks.
Source- Business Insider
