BlackBerry has announced that it will sell its mobile device patents to intellectual property monetisation firm Key Patent Innovations, through a newly-formed subsidiary called Malikie Innovations, for up to $900m. BlackBerry will receive $170m in cash on deal closing, and a further $30m three years later, as well as annual royalties from profits made through the messaging and wireless networking components of the patents. BlackBerry was forced to find a new buyer for the patents after their original deal with Catapult IP Innovations fell through. BlackBerry is now focusing on its cybersecurity and software offerings, following years of market losses to Apple’s iPhones and Android devices.
Blackberry to sell mobile device patents in new $900M deal following failed sale to Catapult. #technews #mobilepatents
