Shahzoor Ali
BlackBerry has completed the sale of its non-core patents and patent applications to Malikie Innovations Limited. The transaction involved approximately 32,000 non-core patents and applications, and excluded those necessary to support BlackBerry’s current core business operations. BlackBerry retained all existing revenue-generating agreements and approximately 2,000 patents relating to mobile devices. The company received $170 million in cash at closing, and the transaction will not impact customers’ use of any of BlackBerry’s products, solutions, or services. This move is in line with BlackBerry’s ongoing strategy to focus on its core businesses and technology solutions.
BlackBerry’s Chief Legal Officer, Steve Zipperstein, said, “The completion of this sale marks another important milestone in BlackBerry’s ongoing strategy to focus on core technologies and businesses, while also unlocking value from non-core assets. This transaction allows us to continue to deliver the most innovative and secure technology solutions to our customers and partners worldwide.”
This sale comes as BlackBerry continues to innovate and expand its offerings, particularly in the areas of cybersecurity, data privacy, and the Internet of Things (IoT). BlackBerry’s current core business operations include its QNX operating system, which powers automotive software, and its enterprise software and security solutions.
This move also reflects BlackBerry’s efforts to streamline its operations and optimize its portfolio. By selling off non-core patents and applications, the company can focus on developing and enhancing its core technologies and businesses. It also allows the company to generate cash to invest in growth areas and return value to shareholders.
Press Release:
WATERLOO, ON, May 11, 2023 /PRNewswire/ — BlackBerry Limited (NYSE: BB; TSX: BB) today announced the completion of the previously-announced sale of substantially all of its non-core patents and patent applications to Malikie Innovations Limited (“Malikie”), a wholly-owned subsidiary of Key Patent Innovations Limited.
Under the terms of the sale, unchanged from those previously announced, BlackBerry received $170 million in cash at closing.
The transaction included the sale of approximately 32,000 non-core patents and applications, and excluded those necessary to support BlackBerry’s current core business operations. BlackBerry has retained all existing revenue generating agreements, and approximately 2,000, primarily standards essential, patents relating to mobile devices. The transaction will not impact customers’ use of any of BlackBerry’s products, solutions or services.
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