BlackBerry Limited has become a billion-dollar cybersecurity firm after announcing its acquisition of Cylance, a privately-held artificial intelligence and cybersecurity company based in California.
John Chen, executive chairman and CEO of Blackberry said: “BlackBerry took a giant step forward toward our goal of being the world’s largest and most trusted AI-cybersecurity company.”
“Securing endpoints and the data that flows between them is absolutely critical in today’s hyperconnected world. By adding Cylance’s technology to our arsenal of cybersecurity solutions we will help enterprises intelligently connect, protect and build secure endpoints that users can trust.”
Cylance’s machine learning and artificial intelligence technology is a strategic addition to BlackBerry’s end-to-end secure communications portfolio. Notably, its embeddable AI technology will accelerate the development of BlackBerry Spark, the secure IoT communications platform.
Industry commentators said of the move: “Given the increasing threat landscape and our exploding reliance on connected IoT devices the potential for a digital catastrophe due to an intentional or accidental breach has never been higher and growing at an alarming rate. BlackBerry (and their) now approved acquisition of Cylance makes this a critical game changing moment for the company and the IoT industry,” Rob Enderle, Enderle Group.