WATERLOO, Ont. – Blackberry Ltd has announced its acquisition of artificial intelligence and a cybersecurity company for money of US $ 1.4 billion.
Blackberry says until there is regulatory approval and closing conditions, the agreement to procure a California based bailiff is expected to close before the end of the financial year in February 2019.
The company says that the deal also includes the assumptions of Unimported First employee incentives.
Blackberry says Cylance is a pioneer in applying artificial intelligence, algorithmic science and machine learning to cybersecurity software.
Escape will act as a separate business unit in BlackBerry.
Companies in this story: (TSX: BB)
The Canadian Press