In a move that makes it even more apparent that BlackBerry has moved beyond making phones, today the company announced it has entered into a patent sale agreement, netting the company $600 million.
WATERLOO, ON, Jan. 31, 2022 /PRNewswire/ -- BlackBerry Limited (NYSE: BB; TSX: BB), announced today that it has entered into a patent sale agreement with Catapult IP Innovations Inc., a Delaware company, pursuant to which BlackBerry has agreed to sell substantially all of its non-core patent assets to Catapult for total consideration of $600 million.
Patents that are essential to BlackBerry`s current core business operations are excluded from the transaction. BlackBerry will receive a license back to the patents being sold, which relate primarily to mobile devices, messaging and wireless networking. This transaction will not impact customers` use of any of BlackBerry`s products, solutions or services.
Catapult is a special purpose vehicle formed to acquire the BlackBerry patent...
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