BlackBerry Ltd (BB) stock was up +22.45 to $9.11 in New York during the pre-market session.
So, what happened? Exactly…
A decade earlier, the Company was a massive corporation, and its devices were one of the most successful. Quick to 2021, and the brand is nothing like its old self; it cannot relate to smartphones’ current reality. But its patents remain relevant, and a new report now asserts that Huawei has acquired a company spokesperson then confirmed 90 Blackberry patents, most of them related to security and information.
According to BlackBerry, the transaction was about patents in the United States and is a minimal transaction, not part of any ongoing arrangements both sides have with the Canadian government. In this country, BB is originally from.
According to one patent lawyer, the acquisition includes security-related patents and some regarding basic functionality – how to present text, depending on the phone’s orientation, how GPS data is obtained, etc.
John Chen, BlackBerry Ltd (BB)CEO, said the Company is now moving away from the smartphone business and into the world of software. It is currently betting all its chips on licensing deals – either selling existing patents or suing companies like Facebook and Twitter who used its intellectual property without the proper remuneration.
BlackBerry (NYSE: BB) provides enterprise and government clients with intelligent security software and services. In addition to the 500 million endpoints, the Company secures more than 175 million cars on the roads today. This Canadian Company delivers solutions using artificial intelligence and machine learning to help protect the information, develop safety products, and improve endpoint security. BlackBerry is a leader in endpoint security management, encryption, and embedded systems. Its vision is simple – to secure a connected future you can trust.