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BlackBerry is selling worth USD 600 million of mobile-related patents

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Huawei
Following the company's January move to shut down its services, BlackBerry earlier confirmed that it is selling more of its patents earlier.
BlackBerry is selling worth USD 600 million of mobile-related patents
File photo: BlackBerry KEY2 and KEY2 LE from 2019

BlackBerry mobile patents for sale!

This time, the sale is to Catapult IP Innovations. The patents that were sold are related to mobile devices, messaging, and wireless networking. Catapult was formed to specifically hold BlackBerry patents.

The total value of the sale is USD 600 million (USD 450 million in cash and USD 150 million promissory note).

According to reports, a part of the deal allows BlackBerry to retain a license to use the patents.

BlackBerry notes that the sale will not affect its customers that use its services and some of its employees will move to Catapult.

The sale is not a done deal yet as the federal government of Canada will check the details to "ensure they are likely yo have a net benefit to the Canadian economy, not a pose a risk to national security".

BlackBerry has yet to make a comment on the matter.

In 2021, BlackBerry also sold over 90 smartphone patents to tech giant Huawei.

To read the full report, check our source below.

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