BlackBerry said the transaction with the vehicle, Catapult IP
Innovations Inc, will not impact customers' use of its products
or services.
The move comes weeks after BlackBerry pulled the plug on service
for its once ubiquitous business smartphones, which were toted
by executives, politicians and legions of fans in the early
2000s.
U.S-listed shares of BlackBerry were down 3.6% in premarket
trading. One of the so-called "meme stocks", such as GameStop
and AMC Entertainment, that witnessed a surge in early 2021,
BlackBerry rose 41% last year.
At the closing of the deal, the company will receive $450
million in cash and a promissory note for $150 million.
Once known for its phones with a tiny QWERTY physical keyboard
and the BBM instant messaging service, BlackBerry's core
businesses today are cybersecurity and software used by
automakers.
(Reporting by Chavi Mehta in Bengaluru; Editing by Shinjini
Ganguli)
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