Blackberry Signs $900 Million Deal to Sell Patents Related to Mobiles

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BlackBerry on Tuesday mentioned it would promote patents principally associated to cell units for up to $900 million (roughly Rs 7,441 crore) after the Canadian software program firm terminated an earlier take care of Catapult IP Improvements.

Malikie Improvements will purchase again the patents and pay $170 million (roughly Rs. 1,405 crore) in money after the deal closes and one other $30 million (roughly Rs. 248 crore) after three years. BlackBerry can even obtain annual money awards from income generated from patents associated to messaging and wi-fi networks, amongst others.

Malikie is a newly fashioned division of mental property monetization agency Key Patent Improvements.

Final yr, Blackberry mentioned it was exploring different choices for promoting its patents as a deliberate take care of Catapult IP Improvements Inc took longer than normal to shut, main to a lack of exclusivity.

“Catapult was unable to safe financing that may permit it to full the beforehand introduced transaction on modified phrases acceptable to BlackBerry,” the Canadian firm mentioned in an announcement.

As soon as recognized for telephones with tiny bodily QWERTY keyboards and the BBM prompt messaging service, at the moment BlackBerry’s core companies are cybersecurity and software program utilized by automakers.

Final yr, the corporate stopped servicing its smartphones, the fruits of years of shedding market share to Apple’s iPhone and competing Android units.

In February 2022, Blackberry introduced that it will promote its legacy patents, primarily associated to cell units, messaging and wi-fi networks, for US$600 million (roughly Rs. 4,490 million) to a particular function car fashioned to purchase the corporate’s patent property.

© Thomson Reuters, 2023

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