Nov 16, 2018

BlackBerry agrees to acquire Cylance for $1.4 billion

Photo: Bernard Weil/Toronto Star via Getty Images

BlackBerry has agreed to acquire cybersecurity company Cylance for $1.4 billion, confirming earlier reports of the deal.

Why it matters: This is BlackBerry's largest acquisition to date, and the deal serves as a reminder of how BlackBerry is trying to become more of an enterprise software company than a keyboarded smartphone maker.

To the exits: Cylance, which had been viewed as an IPO candidate, raised over $320 million, from firms like Blackstone, Insight Venture Partners, In-Q-Tel, KKR, Ten Eleven Ventures, Khosla Ventures, Fairhaven Capital Partners, DFJ Growth and Founders Equity Partners.

The bottom line: "Cylance makes AI-enabled software designed to protect mobile devices, tablets and other internet-connected devices from cyber attacks. The company’s software resides on these devices and is designed to work even when they’re not connected to a network and without consuming much power." — Jeremy Kahn, Bloomberg

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Why it matters: South Korea has been a model for how to handle the novel coronavirus, and the closures reportedly followed concerns from parents and teachers over child safety. The country's confirmed death toll has plateaued at 269 over the past few days, with few increases, per Johns Hopkins data.

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Trump to end Hong Kong’s special trade status

President Trump. Photo: Win McNamee/Getty Images

President Trump announced on Friday that the U.S. would be fundamentally changing longstanding policies toward Hong Kong as a result of Chinese encroachment on the city's autonomy.

Why it matters: Trump said he would be effectively ending the special trade status that has allowed Hong Kong to flourish as a gateway to the Chinese market. That leaves an uncertain future for businesses that operate in Hong Kong, not to mention the city's 7 million residents, and could be met with reprisals from Beijing.