Blackberry Sold Its Patents for USD 600 Million

Source: Blackberry official

BlackBerry, which once was the third-largest mobile OS, seems that it’s finally stepping away from the niche of mobile phone users. As for today, BlackBerry announced they’ve sold its mobile technology to a patent giant for USD 600 million. However, BlackBerry will maintain its existing line of products and services. The deal announced last  Monday was to sell primarily related to mobile devices, messaging, and wireless networking to Catapult IP Innovations Inc. for USD 600 million.

Source: Blackberry official

The deal does not include patents that are critical to its core business. BlackBerry will still be able to license the patents it sells, and its customers will be able to use its products or services without being affected in any way. The patents sold relate in essence to mobile devices, messaging, and wireless networks. 

The signed deal is subject to meeting all regulatory conditions under the U.S. Hart – Scott – Rodino Antitrust Improvements Act and the Investment Canada Act, which could take up to a year to approve.

Catapult is a Delaware-based special company, described in the business jargon as a special situation or special purpose vehicle created specifically to acquire BlackBerry’s patent assets. They will use a consortium led by Toronto-based Third Eye Capital, according to the presentation, partially funded by a consortium that includes a Canadian pension fund that backed the deal.

According to one Authority website report, some BlackBerry Android applications will stop functioning. This means that BlackBerry Android phone users will face difficulties and will be out of maintenance after August 31, 2022.

Blackberry 5g Phone Is Still in Development

After the partnership between BlackBerry and TCL ended, many people thought they would never see its smartphones anymore. However, 7 months later, the company signed a partnership with OnwardMobility. This agreement gives the company the license to produce phones and according to a recent report, BlackBerry 5G phones with keyboards are still in development. 

Source: Blackberry official

According to reports, OnwardMobility originally planned to launch a 5G phone in Q2 of 2021. We are already in 2022 and yet no date for the launch.

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