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Home World News

Why BlackBerry Stock Surged This Week

by bullnews
February 7, 2025
in World News
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Why BlackBerry Stock Surged This Week
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Over the past week, BlackBerry’s stock has been on a notable upward trajectory, climbing over 18%, as per data from S&P Global Market Intelligence. This surge comes in the wake of the closure of a significant asset sale by the long-standing Canadian tech firm, a deal that was initially announced towards the end of 2024.

### Cylance: A Valuable Asset

On Monday evening, BlackBerry announced the completed sale of its Cylance cybersecurity unit’s endpoint security assets. The buyer, Arctic Wolf, is a well-regarded U.S. company specializing solely in cybersecurity. Last December, both companies, who have been business partners, finalized an agreement where Arctic Wolf agreed to purchase Cylance through a combination of cash and stock. BlackBerry is set to receive $160 million in cash upfront—subject to certain undisclosed adjustments—and approximately 5.5 million shares in Arctic Wolf, which is still privately held.

The agreement outlined that BlackBerry would collect about $80 million upon closing the transaction and an additional $40 million a year later.

### Ongoing Partnership

In a press release, BlackBerry CEO John Giamatteo described the sale as “pivotal.” He emphasized that the company is “excited to continue our relationship with Arctic Wolf as a customer, as a reseller of our portfolio to our large government customer base, and as a shareholder in this thriving, burgeoning company.”

Back in 2019, BlackBerry purchased Cylance, known for leveraging artificial intelligence to enhance its security solutions, for a hefty $1.4 billion in cash, along with unvested employee incentive awards.

Tags: BlackBerryStockSurgedWeek
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