On Friday, Blackberry Ltd. has substantially raised its bets on the artificial intelligence and the cyber security with the purchase of around $1.4 billion of a company that is based in California for machine-learning, named Cylance. This technology company that dominated the smartphone industry in the last decade and has further shifted to selling of software in order to manage mobile devices, along with some of the developing areas, including autonomous cars.
The privately owned Cylance make use of machine learning in order to preempt the security breaches well before they occur. The applications of machine learning seek to block the attempts of infiltration or malware rather than to react and work after the breach. At present, Cylance has around 3,500 active enterprise customers that has been considering the filing for a stock market floatation, states a new research report by Business Insider.
John Chen, the CEO of Blackberry stated that the leadership of Cylance in cyber security and artificial intelligence are likely to immediately complement their entire portfolio. On this, the Chief Executive of Cylance, Stuart McClure said that they will be able to leverage the strength of Blackberry in the mobile security and communications so as to adapt the Artificial Intelligence technology.
Blackberry is expected to make a payment of around $1.4 billion. In addition to this, the deal also comprises the assumption of the Cylance’s unvested incentives of the employees. Furthermore, the company is expected to continue its operations as a separate business unit after the deal is closed.