The communication software company announces a deal regarding its non-core patent assets
On Monday, BlackBerry revealed it sold rights to the legacy patents that powered its mobile phone handset. The deal, which is worth around $600 million, represents the close of a ten-year-long slide in relevance for BlackBerry. At one point used to represent 43% of the global handset market.
The company’s representatives stated: "Patents that are essential to BlackBerry's current core business operations are excluded from the transaction. […] BlackBerry will receive a license back to the sold patents, 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."
The company now focuses on cybersecurity software and closes out the handset service earlier this year.
After the news hit the wires, BlackBerry’s stock price traded 5.5% lower.
Sources: finance.yahoo.com, thestreet.com
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