Quarterhill Inc T.QTRH

BlackBerry to sell legacy patents to Catapult IP Innovations

[100mill]

Posted for those who were concerned that Wilan might bid on the Blackberry patents.

BlackBerry to sell legacy patents to Catapult IP Innovations for $600 million

BlackBerry Ltd. BB, +4.37% said Monday it has entered an agreement to sell legacy patents relating mostly to mobile devices, messaging and wireless networking to Catapult IP Innovations Inc. for $600 million. The Canadian cybersecurity company said patents essential to its core business are not included in the deal. BlackBerry will have a license back to the patents being sold and customers will not feel any impact on the use of its products or services. Delaware-based Catapult is a special purpose vehicle that was formed to acquire the patents and will fund the deal using a loan provided by a syndicate led by Toronto-based Third Eye Capital that includes a Canadian pension fund. Shares were down 1.7% premarket and have fallen 44% in the last 12 months, while the S&P 500 SPX, +2.43% has gained 19%.

[whaler83]

interesting. I wonder who is behind catpult IP. Probably big tech.  Sad to see more canadian (funded) inovation going down south. Now lets try and get top value for Wilans IP. Maybe Catapult is interested.

[Lagger95]

Questions on the BB board about who is behind Catapult. 600 million in a trillion dollar world not that much. Depends what was sold and to who. Hope we get top value but skeptical.