Arctic Wolf acquires Cylance from BlackBerry for $160 million

Source: CyberScoop Author: Greg Otto URL: https://cyberscoop.com/arctic-wolf-cylance-blackberry-acquisition/

  1. ONE SENTENCE SUMMARY: Arctic Wolf is acquiring Cylance for $160 million to enhance its cybersecurity solutions with AI technology.

  2. MAIN POINTS:

  3. Arctic Wolf agreed to acquire BlackBerry’s Cylance for $160 million.

  4. The previous acquisition cost for Cylance was $1.4 billion in 2018.

  5. Cylance’s AI technology will be integrated into Arctic Wolf’s security platform.

  6. This marks Arctic Wolf’s sixth acquisition, enhancing its cybersecurity portfolio.

  7. The acquisition includes cash and approximately 5.5 million common shares.

  8. BlackBerry will receive about $80 million at closing of the deal.

  9. BlackBerry plans to stay involved as a reseller and shareholder after the sale.

  10. Cylance was founded in 2012 and had significant past contributions in cybersecurity.

  11. Market shifts led to Cylance struggling with its position in cybersecurity.

  12. Arctic Wolf emphasizes the need for integrated security operations to improve effectiveness.

  13. TAKEAWAYS:

  14. Arctic Wolf aims to strengthen its market position through strategic acquisitions.

  15. The integration of AI is crucial for modern cybersecurity solutions.

  16. BlackBerry’s future role will still influence Cylance’s client services.

  17. Unified security platforms are essential for addressing existing vulnerabilities.

  18. The deal exemplifies significant shifts in the cybersecurity landscape and market dynamics.