Mobile handset company BlackBerry have announced the acquisition of IT security firm Cylance for USD 1.4 billion. With this acquisition, BlackBerry aims to penetrate the cybersecurity market and position itself as a provider of end-point security, detection and anti-virus solutions.
BlackBerry say that the IT security market is growing year-on-year since enterprises need a wide array of cyber protection tools to combat myriad virus attacks. They say that these tools are compatible with cloud environments and also leverage advanced technologies like AI (artificial intelligence) and ML (machine learning) to counter cyber risks.
By acquiring Cylance, a major AI-driven IT security company, BlackBerry believe that they will be able to penetrate the cybersecurity industry and earn a sizeable chunk of the market right from the word go. They believe that this acquisition will allow them to diversify their offerings as well as add endpoint recognition and reaction (EDR) security capacities, including Cylance’s Protect, Optics, ThreatZero and Smart Antivirus products.
BlackBerry say that with this alliance, they will be incorporating Cylance’s technology with their Spark platform, giving security to IoT products of large and small enterprises. They claim that Cylance’s cutting-edge AI technology will complete BlackBerry’s Spark platform with endpoint digital security capabilities.
Speaking about this acquisition, John Chen, CEO of BlackBerry, stated that Cylance’s expertise in AI and cybersecurity will boost BlackBerry’s entire product portfolio and enable enterprises to secure their IT frameworks. He further added that Cylance’s Optics will provide their customers with an extra layer of threat anticipation whereas, the other products will enable them with detection and monitoring prowess.
Cylance say that they are quite excited about this acquisition and are looking forward to working with BlackBerry’s team. They also say that their IT security solutions will fit into BlackBerry’s offerings like a glove and allow them to expand horizons globally.
Industry experts say that the acquisition will benefit BlackBerry’s current customers and also entice new ones as days unfold. It will be interesting to see how BlackBerry makes the most of this deal, following Cylance’s alliance with Netskope to boost cloud security.