Mubasher: BlackBerry on Friday said that it would buy artificial intelligence (AI) and cybersecurity firm Cylance for $1.4 billion in cash.
The acquisition would help in expanding the Canadian technology company’s QNX division which build software for next-generation driverless vehicles.
The deal includes the assumptions of the California-headquartered AI company’s unvested employee incentives, BlackBerry said.
Moreover, Cyclance, which develops AI-based products to counter cyberattacks on companies, would operate as a separate unit within BlackBerry.
After dominating the smartphone realm for a decade, BlackBerry shifted to selling software to run mobile devices, while focusing on emerging areas like self-driving vehicles.
“Cylance’s leadership in artificial intelligence and cybersecurity will immediately complement our entire portfolio, UEM and QNX in particular,” BlackBerry’s CEO John Chen said.