“Unlocking $900 Million Worth of Patents: Blackberry’s Game-Changing Move After Failed Sale to Catapult”
BlackBerry to Sell Patents for Mobiles in USD 900 Million Deal
BlackBerry, a Canadian multinational company, is set to sell its patents related to mobile phones in a deal worth USD 900 million. The buyer of these patents is an intellectual property firm named Catapult IP, backed by the private equity firm, Marlin Equity Partners. The deal is expected to be completed by the end of 2021.
The decision to sell the mobile phone patents comes as a part of BlackBerry’s restructuring strategy to focus on cybersecurity and Internet of Things (IoT) solutions. The company will retain its valuable security and IoT patents, which align with its new strategy.
The sale includes a portfolio of 38,000 patents related to mobile phone technology. BlackBerry would receive USD 900 million in cash for the sale of these patents.
John Chen, Executive Chairman and CEO of BlackBerry, said, “This transaction is a significant milestone in our ongoing efforts to monetize our robust patent portfolio. The sale of our patents will enable us to focus on further investments in our cybersecurity and IoT businesses and expands the opportunities for our enterprise customers to leverage our strategic software and services.”
The patents sold by BlackBerry are expected to be used by various smartphone manufacturers to enhance their products’ features and capabilities.
1. BlackBerry will sell its mobile phone patents in a deal worth USD 900 million to Catapult IP, an intellectual property firm linked to private equity firm Marlin Equity Partners.
2. The decision to sell mobile phone patents comes as part of BlackBerry’s restructuring to focus on cybersecurity and IoT solutions.
3. BlackBerry will retain valuable security and IoT patents, which align with its new strategy.
4. The sale includes a portfolio of 38,000 patents related to mobile phone technology.
5. The sale of these patents will enable BlackBerry to invest more in its cybersecurity and IoT businesses.
6. The patents sold are expected to enhance the features and capabilities of various smartphone manufacturers.