Blackberry seemed to have to add to their cybersecurity offerings for quite a few years and now it takes a leap. The company as reported by Business Insider on Friday is in talks to buy Cybersecurity Company Cylance Inc in a deal that could reach $1.5B.
As per reports, the California-based company develops AI-based products to prevent cyber attacks on companies; Clients noted to be making use of Cylance products include Panasonic, Phoenix Children's Hospital, WWE, Apria Healthcare and more. Cylance has raised $327M in VC funding and competes with Crowdstrike, which is reportedly planning an IPO that would value it at more than $3B.
According to Business Insider, the deal could be worth as much as $1.5 billion and as it’s not in the final stage, it is speculated to be announced as soon as next week. Naturally, the financial details are not firm, and sources noted the deal could still fall apart as nothing has been announced yet.
BlackBerry and Cylance did not respond or comment on the leaked rumors.