BlackBerry (BB, Financial) shares rose over 15%, reaching $3.12. The increase follows BlackBerry's agreement to sell its Cylance endpoint security assets to Arctic Wolf for $160 million in cash and approximately 5.5 million shares of Arctic Wolf common stock. The deal includes an initial payment of $80 million upon closing and an additional $40 million after one year. The transaction is expected to conclude in BlackBerry's fourth fiscal quarter.
Cylance, known for AI-driven endpoint protection, will be integrated into Arctic Wolf's Aurora security operations platform. This acquisition aims to enhance Arctic Wolf's market position by offering comprehensive security from endpoint to edge.
