Shulou(Shulou.com)11/24 Report--

CTOnews.com, March 21 (Reuters)-Canadian software company BlackBerry Ltd announced on Tuesday that it would sell its patents mainly related to mobile devices for up to $900 million (CTOnews.com Note: about 6.192 billion yuan) after its deal with Catapult IP Innovations Inc fell through.

Tuyuan Pexels bought the BlackBerry patent from Malikie Innovations Ltd, a new subsidiary of intellectual property monetization company Key Patent Innovations Ltd. Malikie will pay $170 million in cash when the deal is completed and another $30 million three years later. In addition, BlackBerry will receive annual cash royalties from profits generated by patents related to its messaging and wireless networks.

BlackBerry said last year that it was exploring other options for selling its patents because the planned deal with Catapult IP Innovations Inc took too long and led to a loss of exclusivity. "Catapult failed to raise enough money to complete the previously announced deal, and the revised terms of the deal are not accepted by BlackBerry," BlackBerry said in a statement.

Once known for its phones equipped with QWERTY physical keyboards and BBM instant messaging services, BlackBerry now focuses on network security and building software for carmakers. Last year, the company stopped supporting its smartphones, as a result of years of shrinking market share in front of Apple's iPhone and other Android devices.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.