BlackBerry Completes Acquisition of AI cybersecurity firm Cylance

BFSI News

BlackBerry-Completes-Acquisition-of-AI-cybersecurity-firm-Cylance BlackBerry Completes Acquisition of AI cybersecurity firm CylanceBlackBerry, the Canadian phone maker that once ruled the smartphone market in the early years of the millennium, as per a recent press release statement, has completed its $1.4 billion acquisition of Irvine, California-based artificial intelligence (AI) & cybersecurity firm, Cylance. Earlier, in Nov. 2018, BlackBerry announced the acquisition deal.

Following this acquisition, now BlackBerry will have access to Cylance’s machine learning (ML) and AI technology for its end-to-end communications portfolio. The company claims that Cylance’s AI optimized technology will be used in the development of BlackBerry’s IoT communications platform, called the “BlackBerry Spark”.

According to John Chen, executive chairman, and CEO, BlackBerry, with this acquisition, the company took a giant step forward toward its goal of being the largest and most trusted AI-cybersecurity company all around the world. Adding further he said that in today’s hyperconnected world, securing endpoints and the data that flows in between is of absolute importance. By integrating Cylance’s technology with BlackBerry’s arsenal of cybersecurity solutions, the company will help enterprises intelligently connect, protect and build secure endpoints that users can trust.

The acquisition deal didn’t lead to any role change or job cuts, but the company did note that Stuart McClure, who is now the president of BlackBerry Cylance, continuing his visionary math-based approach to threat detection, prevention, and response, will now be leading the business’ large team of highly-skilled engineers and data scientists.