Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

BlackBerry seeks other patent sale options as deal with Catapult delayed

Published 06/01/2022, 09:18 AM
Updated 06/01/2022, 09:41 AM
© Reuters. FILE PHOTO: The Blackberry logo is seen on a smartphone in front of a displayed stock graph in this illustration taken February 5, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) - BlackBerry (NYSE:BB) Ltd said on Wednesday it was exploring other options to sell its patents as the planned deal with Catapult IP Innovations Inc was taking longer than usual to close, leading to a loss in exclusivity.

The Canadian company had earlier this year agreed to sell its patents primarily related to mobile devices, messaging and wireless networking for $600 million to the special purpose vehicle.

Catapult is working to secure its required financing, BlackBerry said, adding that it "looks forward" to the completion of the transaction. The sale to Catapult was expected to close in the first quarter of fiscal 2023.

BlackBerry is scheduled to host its annual shareholders' meeting on June 22.

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.