BlackBerry increased its stakes on artificial intelligence and cybersecurity by purchasing a California-based Cylance learning specialist machine for $ 1.4 billion. Canadian technology companies, which dominated the smartphone market a decade ago, have switched to selling software to manage mobile devices, and areas that appear like autonomous cars.
Private cylance uses machine learning to precede security breaches before they occur. This application attempts to block malware or infiltration attempts rather than react after a violation.
Cylance, which has more than 3,500 active company customers, has considered submissions for stock market filing, according to a report in Business Insider. "Cylance's leadership in artificial intelligence and cybersecurity will soon complement our entire portfolio," BlackBerry CEO John Chen said in a statement.
The chief executive of the California-based company Stuart McClure, in turn, said he would be able to harness the power of Blackberry in mobile communications and security to adapt its AI technology. In addition to the $ 1.4 billion BlackBerry will pay, the agreement also includes the assumption of employee incentives that are not funded by Cylance, BlackBerry said. Cylance will continue to operate as a separate business unit after the agreement is closed, BlackBerry said. The agreement is expected to close in February 2019. Blackberry stocks registered in the US increased slightly in light pre-market trading.
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