Arctic Wolf, a provider in security operations, has announced its plan to acquire the endpoint security tool, Cylance, from BlackBerry for $160m.
According to CRN, Arctic Wolf is known for its comprehensive security solutions, including managed detection and response (MDR), vulnerability management, and cloud security. Cylance, acquired by BlackBerry in 2018 for $1.4bn, has been integral to BlackBerry’s shift towards cybersecurity after moving away from the mobile device market.
The acquisition, valued at $160m in cash and inclusive of 5.5 million common shares of privately-held Arctic Wolf, is driven by the aim to integrate Cylance’s pioneering AI-based endpoint protection into Arctic Wolf’s existing operations. This move is expected to enhance the capabilities of Arctic Wolf’s security platform significantly.
Arctic Wolf specialises in providing an extensive security operations platform, encompassing MDR services combined with vulnerability management, managed security awareness, and cloud security. Cylance has been recognised as a trailblazer in AI-based endpoint security, trusted by thousands of organisations worldwide.
This acquisition will enable Arctic Wolf to bolster its platform with advanced AI functionality and a robust suite of endpoint security capabilities, courtesy of Cylance’s innovative technology.
In addition to the cash transaction, the deal includes a significant share exchange, with BlackBerry receiving 5.5 million common shares of Arctic Wolf, which is currently valued at $4.3bn by its investors. Arctic Wolf has also indicated potential plans for an initial public offering.
The transaction is slated for completion by the end of BlackBerry’s fourth fiscal quarter, which concludes at the end of February 2025.
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