BlackBerry to buy cybersecurity firm Cylance for $1.4 billion

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BlackBerry to buy cybersecurity firm Cylance for $1.4 billion

FILE PHOTO: A sign is displayed on the building Blackberry’s offices in Waterloo, Ontario, Canada, May 29, 2018. REUTERS/Mark Blinch

(Reuters) – Canadian software maker BlackBerry Ltd (BB.TO) said on Friday it will acquire Cylance, an artificial intelligence and cybersecurity company, for $1.4 billion in cash.

Besides the cash component, the deal includes the assumption of Cylance’s unvested employee incentives, BlackBerry said.

Cylance will operate as a separate business unit within BlackBerry, the company said.

Reporting by Bhargav Acharya in Bengaluru