BlackBerry sells legacy patents to Catapult IP Innovations for $600M

Jan. 31, 2022 7:01 AM ETBlackBerry Limited (BB), BB:CABy: Niloofer Shaikh, SA News Editor159 Comments
  • BlackBerry Limited (NYSE:BB) has agreed to sell substantially all of its non-core patent assets to Catapult IP Innovations for $600M, comprising of $450M in cash and a promissory note in the principal amount of $150M.
  • The promissory note will be payable in five equal annual installments of $30M in cash commencing on the third anniversary of the closing date, provided that the senior loan is not in default.
  • Patents essential to company's current core business operations are excluded from the transaction.
  • BlackBerry (BB) will receive a license back to the patents being sold, which relate primarily to mobile devices, messaging and wireless networking.
  • This transaction will not impact customers' use of any of BlackBerry's products, solutions or services.

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