BlackBerry Agreed On Sale Price For Patents With Unknown Buyer

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Blackberry CEO and Chairman, John Chen confirmed speculation that the technology company had agreed on a purchase price for part of its patent portfolio with an unnamed buyer, but refused to disclose the price or identity of the buyer.

The company also announced that it has appointed former McAfee Chief Revenue Officer John Joseph Giamatteo to head its cybersecurity products division.

The company also stated that its Chief Operating Officer Tom Eacobacci has decided to pursue other opportunities and will leave the company in October.

Chen claimed that “Revenue for all businesses beat expectations this quarter,” adding that “the Cyber Security business unit delivered robust sequential billings and revenue growth and the IoT business unit performed well in the face of global chip shortage pressures.”

In addition, Chen noted that demand for the technology company’s QNX software “remains very strong, demonstrating both our industry leadership position and secular trends, such as ECU consolidation.”

Revenue in the three months to the end of August totalled $175 million and resulted in a net loss of 6 cents per share, excluding certain costs, exceeding analyst forecasts of $161.9 million and a net loss of 8 cents per share.

BlackBerry’s “Internet of Things” revenue was $40 million, with annual recurring revenue of $89 million.

In addition, Chen said that BlackBerry’s forecast for revenue this year is still in place. In March, the company forecast total revenue from software and services of $675 million to $715 million, with its full-year licensing revenue expected to be $100 million.

BlackBerry is in the process of selling part of its patent collection, which has given an uncertain outlook for the company’s licensing revenue.

For more information, read the original story in ZDNet.

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