CFIUS Clearance: BlackBerry Limited and Cylance Inc.

Status: CFIUS Clearance

Acquirer: BlackBerry Limited (Canada)

Acquired: Cylance Inc. (U.S.)

Value: $1.4 billion

Industry Tags: Artificial Intelligence; Cybersecurity

On November 16, 2018, BlackBerry Limited, a publicly traded Canadian technology company (NYSE: BB; TSX: BB), entered into an agreement to acquire Cylance Inc., “an artificial intelligence and cybersecurity leader, for US $1.4 billion in cash . . .” (See BlackBerry Limited, News release – English, Nov. 16, 2018, SEDAR Filing; BlackBerry Limited Form 6-K, Nov. 16, 2018, SEC Filing.) CFIUS Approval was a condition to the acquisition. (See Section 8.3(e), Agreement and Plan of Merger, BlackBerry Limited, Material Document(s), SEDAR Filing.) On February 21, 2019, BlackBerry completed the acquisition of Cylance. (See BlackBerry Limited Form 6-K, Feb. 21, 2019, SEC Filing.)

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