BlackBerry selling legacy patents for US$600M
BNN Bloomberg
BlackBerry Ltd. is cashing in on some of its intellectual property.
BlackBerry Ltd. is cashing in on some of its intellectual property.
The Waterloo, Ont.-based security software firm announced on Monday it's selling non-core legacy patents to Catapult IP Innovations Inc. for US$600 million, including US$450 million in cash. The balance will come in the form of a US$150-million promissory note.
In a release, BlackBerry said the patents primarily relate to mobile devices, messaging, and wireless networking. The company added that it will license the patents and that the deal won't affect any of its products or services.
BlackBerry said it could take up to 210 days for the transaction to receive all necessary regulatory approvals.
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