BB continues struggles to unload patent portfolio--- even if a decision to sell Wilan by QTRH review process is recommended it could be another matter to realize its value.
BLACKBERRY PROVIDES PATENT SALE UPDATE
BlackBerry Ltd. has released an update on the sale of substantially all of its non-core patent assets to Catapult IP Innovations for total consideration of $600-million. In the fourth quarter of fiscal 2022, BlackBerry announced that it had entered into a patent sale agreement with Catapult for the Patent Sale Transaction and that completion of the transaction is subject to the satisfaction of financing and other closing conditions. BlackBerry also previously announced that closing of the Patent Sale Transaction was expected by the end of the first quarter of fiscal 2023.
Catapult continues to work on securing its required financing and BlackBerry looks forward to the completion of the Patent Sale Transaction. However, BlackBerry is no longer under exclusivity with Catapult and, given the length of time that the transaction has taken, BlackBerry is exploring alternative options in parallel.
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