Blackberry is the latest electronics company to embrace the wonders of AI and Cybersecurity. The Canadian software giant recently acquired a California-based Artificial Intelligence Company- Cylance for 1.4 Billion USD. Besides the US$1.4 billion that BlackBerry will pay, the deal also includes the assumption of Cylance’s unvested employee incentives.
Ever since Blackberry shed off its loss-making smartphone business, the company has been intensely focused on providing software security solutions. And the move has helped the Canadian brand turnaround its business, globally. This move is a yet another clear indication of where it stands. Blackberry now, has made it clear that they want to cement themselves as the leaders in fast-growing Cybersecurity business with their biggest acquisition ever.
Cylance’s rise to prominence in the Cybersecurity space is attributed to their pioneer technology ‘ which they call “The Science of Safe”. The company applies Artificial Intelligence, complex algorithmic science, and machine learning to efficiently predict and forestall security breaches before they occur. Cylance now provides a full spectrum predictive threat prevention and combats the most notorious and advanced cyber attacks. With this technology, Cylance is able to protect the endpoint without increasing the staff workload or costs.
John Chen, Executive Chairman and CEO of Blackberry claims Cylance’s leadership in artificial intelligence and cybersecurity would immediately complement their entire portfolio, UEM, and QNX (It’s Blackberry’s software allows carmakers to offer a range of features such as infotainment, connectivity, in-car network security, advanced driver assistance system and over-the-air software update platform.) in particular. “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”, he added.
Cylance’s Chief Executive Officer Stuart McClure said it would be able to leverage BlackBerry’s strength in mobile communications and security to adapt its AI technology. Cylance, which has over 3,500 active enterprise customers, had been considering an initial public offering, according to a report in Business Insider. Cylance will operate as a separate business until the deal, which is expected to close before the end of Blackberry’s current fiscal year (February 2019) owing to pending approvals of regulations and other customary closing conditions.