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Blackberry is buying an AI and cybersecurity company for $1.4 billion

Blackberry is buying an AI and cybersecurity company for $1.4 billion
[Photo: Bernard Hermant/Unsplash]

The once-king of the mobile landscape is acquiring Cylance for $1.4 billion in cash, Reuters reports. Cylance develops artificial intelligence products that help to prevent cyberattacks on companies. However, Blackberry will mainly use Cylance to boost its QNX unit’s capabilities, which makes software for next-generation self-driving cars.

Blackberry was once the darling of the smartphone world, dominating the industry for years. But then the iPhone came along in 2007 and the Canadian company found itself with a product that looked archaic in comparison. As the smartphone market progressed–and Blackberry’s share continued to decrease–the company shifted from selling mobile devices as its main product to selling software to manage mobile devices and other applications, such as software for autonomous vehicles. With its acquisition of Cylance, it looks clear that Blackberry believes continuing down the software path is the company’s future.

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